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Sensex sheds 209 points

MUMBAI: A late recovery in automobile and bank shares helped the Bombay Stock Exchange 30-share (Sensex) rebound from the early lows, but still ended down 209 points down on Monday as the market continued to confuse investors with its unpredictable movements.

Bank stocks came of initial lower levels on reports that a surprise rate cut by the U.S. Federal Reserve last week has increased the possibility of a repo rate cut by the Reserve Bank of India in its quarterly review of monetary policy to be released on Tuesday.

The late recovery aided the BSE barometer recover by more than 700 points from its intra-day low of 17443.29.

The Sensex closed at 18152.78, a fall of 208.88 points, or 1.14 per cent, against Friday’s close of 18361.66. — PTI

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