The Hindu : Business : Sensex recovers 218 points

Online edition of India's National Newspaper
Thursday, Jun 22, 2006

Business

Business

Sensex recovers 218 points

MUMBAI: The Bombay Stock Exchange sensitive index on Wednesday moved up by 218 points past the 10000-mark to close at 10040.14, in sustained volatile trading, while investors focussed on mid-cap and small-cap stocks.

The market once again witnessed across-the-board buying support after Tuesday's sharp negative reaction but shied away from the 10000 strong resistance level.

Overcoming initial pressure, the BSE 30-share sensitive index (Sensex) later rallied sharply to the intra-day high of 10054.05 before closing at 10040.14 against 9822.52, a net rise of 217.62 points or 2.22 per cent.

Initially, the Sensex dropped to a low of 9752.65 on a cue from a weak trend in Asian markets, which too later turned strong and recovered early losses.

On the National Stock Exchange, the S&P CNX Nifty recovered by 62.15 points or 2.17 per cent to 2923.45.

Attributing the volatility to bull operators face-to-face encounter with the bears, market players said some leading bulls were believed to be absorbing sales of bears. — PTI

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