 Online edition of India's National Newspaper Thursday, Jul 31, 2008 ePaper | Mobile/PDA Version |
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MUMBAI: In a sudden reversal of fortunes, the Bombay Stock Exchange benchmark Sensex rebounded to post a gain of over 495 points on Wednesday on strong buying support in bank and capital goods stocks which were hammered on Tuesday. The BSE barometer shed over 550 points on Tuesday after the Reserve Bank of India announced a hike in short-term lending rate and mandatory amount to be parked with it for banks. The 30-share Sensex closed the day at 14287.21, higher by 495.67 points, after touching the day’s high of 14322.67.
Rupee recovers 30 paise Snapping the four-session of losing streak, the rupee on Wednesday recovered smartly by 30 paise to close at 42.35/36 against U.S. currency due mainly to a steep fall in global crude oil prices and smart recovery in equity markets. At the interbank foreign exchange market, the rupee resumed sharply higher at 42.51/53 from Tuesday’s close of 42.65/66 and improved further. — PTI
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