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Market stabilises above 8200-level
MUMBAI:
The Bombay Stock Exchange sensitive index on Friday stabilised after an initial roller-coaster ride and ended flat on renewed buying support in response to positive statements from the Union Finance Minister, P. Chidambaram, and the Securities and Exchange Board of India.
Initially, the BSE benchmark 30-share index witnessed wild swings in over 200-point-range between 8327.35 and 8121.81 on panic selling alternated by heavy institutional support at lower levels.
It, however, turned stable above the 8200-level after clarifications by Mr. Chidambaram and the SEBI around noon and ended the day at 8222.59 against 8221.64.
Foreign institutional investors and Indian financial institutions were believed to be heavy buyers in several blue chip counters at the lower levels.
The broad-based BSE-100 index recovered modestly by 9.69 points to 4360.80. The BSE-200 and the Dollex-200 were quoted up at 1048.98 and 397.55 against 1045.82 and 396.62 respectively. — PTI
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