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Sensex recovers 338 points

MUMBAI: Shrugging off low industrial production numbers, the Bombay Stock Exchange sensitive index, Sensex staged a smart recovery on Wednesday, after falling for six straight sessions. The benchmark index gained 338 points and closed at 19534.10 against 19196.34 on Tuesday on value buying, amid strong cues from global peers.

The Sensex, showed a highly volatile movement and swung in the range of over 526 points intra-day.

The 30-share index, which lost over 1,350 points in the last six trading sessions, saw heavy selling after industrial output data, showed just 2.7 per cent growth in November 2010, against 11.3 per cent in the year-ago period. However, it staged an impressive rebound as European stocks rose in early trade. The Sensex recovered across the board, as barring capital goods index, all the other 12 sectoral indices ended on a robust note, with consumer durables leading the gains. Realty index gained more than 4 per cent. Metals and banking indices were also among the prominent gainers.

Asian and European markets witnessed smart session. In Asia China's Shanghai gained 0.56 per cent, while Hong Kong's Hang Seng 1.54 per cent.

Rupee gains

The rupee ended higher at 45.13/14 a dollar on Wednesday against 45.1625/1725 on Tuesday. — PTI

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