The Hindu : Business : Sensex rebounds 240 points

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Wednesday, Dec 09, 2009
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Sensex rebounds 240 points

MUMBAI: Snapping a two-day losing string, the Bombay Stock Exchange benchmark Sensex on Tuesday surged by over 240 points to regain the 17000-level, with investors reposing confidence in Indian shares amid distinct weakness in Asian and European bourses.

Much-battered realty shares were back in favour.Metal counter also witnessed brisk buying to shrug off Monday’s hefty losses.

Heavyweight Reliance Industries, which dipped over 3 per cent on Monday, bounced back to close higher by 2.33 per cent at Rs. 1,080.25.

The 30-share Sensex fell for a while and touched a low of 16964.11 in early trade. But brisk buying emerged after mid-session, lifting the barometer to 17227.68, an impressive gain of 244.54 points or 1.44 per cent over its previous close.

Marketmen said buying was spread across all counters and all the sectoral indices closed in the positive terrain.

The market breadth turned positive as 1,862 counters ended with gains while 954 finished with losses on the BSE.

Rupee dips further

The rupee depreciated against the dollar by another 11 paise and closed at 46.67/68 on Tuesday. It closed at 46.57 on Monday. The rupee opened slightly better at 46.52/53 and touched a high of 46.45 intra-day on firm equities. It fell back to a low of 46.76 before concluding at 46.67/68 a dollar. — PTI

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