Mumbai, March 6: Fag-end buying in IT, metals and refinery counters helped the benchmark Sensex to turn the corner, making good its early losses to close up 128 points.
Hectic short coverings in key stocks on the last trading day of the week mainly helped the recovery.
IT counters were at the forefront following a sustained fall in the rupee to near the 52 level against the dollar as a major part of their earnings comes from overseas.
The Bombay Stock Exchange 30-share Sensex initially touched a low of 8,047.17 due to weakness in Asian indices on the back of a steep fall on Wall Street yesterday.
However, good buying support in the concluding session pushed the Sensex up to settle the day at 8,325.82, a rise of 127.90 points or 1.56 per cent over the previous close.
Yesterday, it had tumbled by 248 points or 2.94 per cent.
The broad-based 50-share Nifty of the National Stock Exchange also recovered by 43.45 points or 1.69 per cent to 2,620.15 from its last close.
Hectic short coverings in key stocks on the last trading day of the week mainly helped the recovery.
IT counters were at the forefront following a sustained fall in the rupee to near the 52 level against the dollar as a major part of their earnings comes from overseas.
The Bombay Stock Exchange 30-share Sensex initially touched a low of 8,047.17 due to weakness in Asian indices on the back of a steep fall on Wall Street yesterday.
However, good buying support in the concluding session pushed the Sensex up to settle the day at 8,325.82, a rise of 127.90 points or 1.56 per cent over the previous close.
Yesterday, it had tumbled by 248 points or 2.94 per cent.
The broad-based 50-share Nifty of the National Stock Exchange also recovered by 43.45 points or 1.69 per cent to 2,620.15 from its last close.
No comments:
Post a Comment