The Hindu : Business : Sensex bounces back by 298 points

Online edition of India's National Newspaper
Wednesday, Nov 14, 2007
ePaper

Business

Business

Sensex bounces back by 298 points

MUMBAI: The bulls returned to the equity market after six days, as cheaper stocks inspired buying activity that lifted the Sensex 298 points.

Trading sentiment was also positively influenced by reports that the Left parties might allow the UPA government to approach the IAEA on safeguards for operationalising the Indo-US nuclear deal.

Touching the day’s low of 18636.21 at the outset, the Bombay Stock Exchange barometer later soared to the intra-day high of 19210.48 before closing at 19035.48, a net rise of 298.21 points or 1.59 per cent over Monday’s close.

The Sensex had fallen by 1239 points or 6.2 per cent in the last six trading sessions.

The S&P CNX Nifty of the National Stock Exchange recovered smartly by 78.30 points or 1.39 per cent to close at 5695.40 against 5617.10.

The mid-cap and small-cap shares attracted brisk activity as investors shifted their attention to these segments in a bid to churn portfolios at the current market levels.

Rupee ends weak

The rupee weakened further by six paise to end at 39.42/43 on Tuesday against the close of 39.36/37 on Monday.

State-owned banks made some dollar purchases on behalf of the central bank, which has been preventing the rupee’s surge past 39.30 level in the past few days.

In active trading at the interbank foreign exchange market, the rupee moved in a range of 39.3500 and 39.4450 during the day after resuming steady at 39.37/39 a dollar. — PTI

Printer friendly page
Send this article to Friends by E-Mail

Business