 Online edition of India's National Newspaper Thursday, Jun 26, 2008 ePaper | Mobile/PDA Version |
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MUMBAI: The markets beat widespread anticipation of further fall to close in green on Wednesday with benchmark Sensex notching up a marginal gain of over 100 points on buying support, emerged at fag end in heavyweight stocks at lower levels. Snapping the five-day long sliding string, the 30-share Sensex on the Bombay Stock Exchange ended the day at 14220.07, a gain of 113.49 points over its previous close. The bellwether index had lost 1590.32 points on battering in the last five days. RCom hogged the limelight as its shares closed significantly higher by 7.20 per cent. Tata Steel also attracted investors and closed with a gain of 4.46 per cent. TCS, Reliance Infra and DLF were the other stocks in the elite club that ended in green, by over four per cent. At the outset, markets were abuzz with speculation that bourses were in for a further fall following Reserve Bank’s increasing the short-term lending rate (repo) and the mandatory amount of cash reserve banks need to maintain with the apex bank (CRR) by 50 basis points each. In early trade, the BSE barometer fell to a 14-month low of 13731.54 points following the RBI’s decision but overcame as operators and foreign institutional investors hectically covered their shorts ahead of the expiry of derivatives contract on Thursday. Similarly, the broader 50-share S&P CNX Nifty of the National Stock Exchange jumped by 61.55 points to close at 4252.65. — PTI
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