Sensex gains 26 points in volatile trade
Mumbai: The benchmark Sensex closed 26 points up on the Bombay Stock Exchange on Monday on fresh buying by funds in a day of volatile trading.
The Sensex, which had plunged 541 points in previous day’s trading, rose by 26.34 points at 15,260.91. It touched the day’s high of 15,451.81 and a low of 15,135.25 points in volatile trading.
On the other hand, the wide-based National Stock Exchange index Nifty ended lower by 5.15 points at 4,440.05, after moving between 4,493.05 and 4,403.70 points.
Trading activity remained effected by reports of a fall in global stock markets, including the US Dow Jones Industrial Average and Nasdaq.
Earlier, the Sensex staged partial comeback to quote over 115 points higher at 1100 hours on Monday following emergence of buying by domestic funds at select counters.
The BSE-30 share index, which had lost nearly 100 points in early trade, rebounded to quote 115.27 points higher at 15,349.84, largely on recovery in heavy-weight Reliance Industries (RIL), State Bank of India (SBI) and Hindsutan Lever on fresh buying triggered by impressive first quarter results.
Similarly, on the wide-based National Stock Exchange’s Nifty was up 19.20 points at 4,464.40 after dipping to 4,403.70.
Market observers said apart from domestic funds buying, a pause in selling also helped stocks to recover part of their lost ground.
Shares of the country’s largest lender SBI climbed Rs 72.20 at Rs 1,572.25, while those of the most valued firm RIL shot Rs 11.55 up at Rs 1,878.
The Sensex which had lost 541.74 points on Friday (27 July) was down by another 99.32 points at 15,135.25 in the first five minutes of trading.
Similarly, on the wide-based National Stock Exchange, Nifty fell by 41.50 points at 4,403.70. It had lost nearly 175 points in the previous trading session.
The market remained in a bearish mood on sustained weakness on the global markets, led by US Dows Industrial Average and Nasdaq.
Stock brokers said market had ignored impressive first quarter results posted by RIL, SBI and Hindustan Lever.