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Sensex recovers
MUMBAI:
The stock market ended its three-day losing streak on Wednesday as the Sensex rose by a modest 16 points on buying in banking and metal stocks. The Sensex opened steady at 13771.69 from Tuesday's close of 13765.46 and moved in a range of 13806.37 and 13612.04. It later closed at 13781.51, a modest gain of 16.05 points. The S&P CNX Nifty also recouped slightly by 2.30 points or 0.06 per cent to close at 4079.30.
Banking counters witnessed renewed buying interest due to fall in inflation and expectation that interest rates would not be increased soon. Strong Asian stock markets also helped the recovery. China's Shanghai Composite Index ended up by 63.07 points, Hang Seng by 138.43 points and Nikkei-225 by 91.28 points. Software stocks, however, continued to be at the receiving end following rising rupee.
PTI
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