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Sensex recovers early losses
MUMBAI:
Overcoming early pressures, the Sensex today notched up 55.46 points to close at 6299.20 on the Bombay Stock Exchange following renewed short-covering and value-based buying to extend the rally to the second straight session.
A better-than-expected Q4 results by IT major Satyam Computers generated heavy buying by domestic funds. Higher Asian market advices also boosted the market sentiment to a large extent, brokers said.
Satyam's net for the fourth quarter ended March 31, 2005 was up by 51.37 per cent to Rs. 213.20 crores. The BSE Benchmark 30-share sensitive index opened better at 6249.29, but soon declined to a low of 6174.30 on fresh selling pressure due to weak Wall Street advices. However, heavy buying at lower level pushed the Index up to 6305.88, before closing at 6299.20 against yesterday's close of 6243.74.
Major gains were seen in metal, capital goods and consumer durables shares on heavy buying activity as BSE-Metal shot up by 88.46 points to end at 5934.12.
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