Noon: Trading pattern reverses, Sensex regains

Noon: Trading pattern reverses, Sensex regains
PTI
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First Published: Tue, Dec 16 2008. 12 43 PM IST
Updated: Tue, Dec 16 2008. 12 43 PM IST
Mumbai: The Bombay Stock Exchange benchmark Sensex reversed an early trend by gaining over 58 points at noon on Tuesday on revival of buying.
The Sensex, which commenced the day lower by over 40 points from Monday’s close, took a U-turn to record a gain of 58.58 points at 9,890.97 at 12am.
With the general firming up trend, the wide-based National Stock Exchange index Nifty also regained 3,000 points level by adding 30.85 points at 3,012.05.
Marketmen said the buying activity picked up as general investors joined the stream by picking fundamentally-strong shares in consumer durables and PSU segments.
Sensex had fell by over 40 points in opening on selling by funds in select heavyweight stocks on bearish cues from the global markets.
The 30-share barometer, which gained nearly 187 points in the past two sessions, slipped 40.57 points to 9,791.82 in early trade, with metals, auto, and oil and gas sector indices falling between 0.43 and 0.83%.
Marketmen said overnight losses in the US markets, as the Senators remained deadlocked over an auto industry bailout package, and the alleged fraud committed by New York investment manager Bernard Madoff were major factors causing negative sentiments.
Meanwhile, the Dow Jones Industrial Average closed 0.75% down, while Hong Kong’s Hang Seng index was down 0.92%, while Japan’s Nikkei shed 0.65% in the early trade on Tuesday.
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First Published: Tue, Dec 16 2008. 12 43 PM IST
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