The Hindu : Business : Sensex recovers 69 points

Online edition of India's National Newspaper
Thursday, Jan 25, 2007
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Business

Business

Sensex recovers 69 points

MUMBAI: The Bombay Stock Exchange on Wednesday staged a modest recovery with the benchmark Sensex adding 69 points on the back of strong rally in metal and capital goods shares.

The Bombay Stock Exchange's 30-share sensitive index settled at 14110.46, a gain of 69.22 points over Tuesday's close of 14041.24. The index rose to an intraday high of 14156.46 after opening at 14069.61.

A strong surge in metal prices in world markets triggered heavy buying in metal stocks while traders also covered short positions in derivatives ahead of expiry of January series on Thursday.

On the National Stock Exchange (NSE), the S&P CNX Nifty gained 23.80 points to 4089.90.

Operators were busy rolling over positions to the new contract of the Futures and Options (F&O) beginning on January 29 in view of a public holiday on Friday on account of Republic Day, brokers said.

Reflecting the rally in metal shares, the BSE Metal Index soared by 331.25 points or 3.72 per cent to 9228.60.

Iron ore exporter, Sesa Goa scored 10.53 per cent rise in its share price on reports of buy-back of shares at a substantially higher price.

Firm trend in other Asian markets also had a positive impact on the domestic bourses.

Hong Kong's Hang Seng ended up by 51.35 points and Japan's Nikkei by 98.83 points. — PTI

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