The Hindu : Business : Sensex recovers 209 points

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Thursday, Dec 06, 2007
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Sensex recovers 209 points

MUMBAI: Tracking firm global cues, the Sensex ended 209 points higher on Wednesday, indicating A range-bound trade in the near-term.

The market breached the 19750 resistance level during trading but came under pressure, which could partly be attributed to slowdown in purchases by foreign institutional investors and the government’s admission on suspected copious investment in Indian shares. After a brief pause on Tuesday, the Sensex opened at 19628.85 and gradually moved upwards to end the day at 19738.07, a net rise of 208.57 points against Monday’s close of 19529.50. Similarly, the S&P CNX Nifty of the National Stock Exchange jumped by 81.65 points to close at 5940.

Rupee declines

The rupee weakened by seven paise on Wednesday to 39.49/50 against dollar, cutting its three-session winning streak, on exporters’ dollar selling. It closed at 39.42/43 on Tuesday.

In a fairly active trade at the interbank foreign exchange market, the rupee opened steady at 39.42/44 a dollar. It later touched a high of 39.41 before falling back to settle at 39.49/50 a dollar. — PTI

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