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Sensex surges 200 points on funds buying, short-covering

Sensex surges 200 points on funds buying, short-covering
PTI
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First Published: Thu, Jun 14 2007. 04 36 PM IST
Updated: Thu, Jun 14 2007. 04 36 PM IST
Mumbai: The Bombay Stock Exchange benchmark Sensex climbed 200 points on 14 June on the back of a rally in blue chip stocks, led by metals and capital goods sectors.
Firming global markets also influenced the trading sentiments here, triggering the buying spree.
The Sensex moved in a one-way direction throughout the session and ended 200.69 points, or by 1.43%, up at 14,203.72 after touching the day’s high of 14,219.24. It had lost nearly 128 points on 13 June.
Similarly, the second wide-based National Stock Exchange index shot up by 56.95 points to close the session at 4,170.
Stock brokers said apart from firming global stock markets, government’s announcement of a package for exporters, who are hit by rupee appreciation, too acted as a positive factor.
They said covering-up of short positions by speculators also accelerated recovery in stock prices.
All the sectoral indices ended in the positive zone with sizable gains, extending support to the Sensex.
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First Published: Thu, Jun 14 2007. 04 36 PM IST
More Topics: Money Matters | Equities |