Market rebounds, Sensex closes 400 points up

Market rebounds, Sensex closes 400 points up
PTI
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First Published: Fri, Mar 14 2008. 05 39 PM IST
Updated: Fri, Mar 14 2008. 05 39 PM IST
Closing
Mumbai: After yesterday’s heavy fall, the markets came back today with the benchmark Sensex scaling up by over 400 points on good buying support in fundamentally strong shares available at lower levels.
The 30-share Sensex, which tumbled 770 points yesterday, recovered by 403.17 points at 15,760.52. The index touched the day’s highest level of 15,798.42 and a low of 15,331.35 points.
Marketmen said heavyweight stocks in metal, realty and refinery counters attracted heavy buying.
The National Stock Exchange index Nifty spurted by 122.20 points at 4,745.80 after touching the day’s high of 4,758.95 and a low of 4,607.55 points.
Reliance stocks, belonging to both Ambani brothers, were star performers. Some steel company shares also stole the show, marketmen said.
Metal index gained the most by rising 470.91 points at 14,844.87, followed by realty index by 350.41 points at 7,712.83.
Oil and Gas index shot up by 332.84 points at 10,354.81, capital goods index by 270.60 points at 13,579.94, bank index by 246.29 points at 8,323.09, consumer durable index by 156.16 at 4028.80.
PSU index was also up by 135.10 points at 7,527.22 while IT improved by 94.64 points at 3406.55.
Opening
Mumbai: The Bombay Stock Exchange benchmark Sensex on Friday increased by 120 points in early morning trade on emergence of buying by funds and general investors in fundamentally strong shares available at the existing lower level.
The 30-share Sensex, which plunged 770 point on Thursday, gained 119.78 points to 15,347.61 points in the first five minutes of trade.
The wide-base National Stock exchange index, Nifty, also rose by 35.45 points to 4,659.05 points as heavy-weight stocks like Reliance Industries, Larsen and Toubro and ONGC traded higher.
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First Published: Fri, Mar 14 2008. 05 39 PM IST
More Topics: Sensex | BSE | Stocks | Shares | Nifty |