Advertisement

HindustanTimes Wed,16 Apr 2014

Sensex steadies after slump

PTI  Mumbai, March 01, 2013
First Published: 10:03 IST(1/3/2013) | Last Updated: 21:05 IST(1/3/2013)

Shrugging off Budget blues, the BSE benchmark Sensex on Friday bounced back from three-month lows to end nearly 57 points higher at 18,918.52 on value-buying after the finance ministry promised to address concerns over Tax Residency Certificates (TRC).

Advertisement

The Sensex, which had tumbled 291 points on Thursday to 1,8861.54 on hike in taxes and FII concerns, opened firm and rose to an intra-day high of 18,988.97. It closed at 18,918.52.

The National Stock Exchange Nifty rose by 26.65 points, or 0.47% to 5,719.70.

"The markets were able to recover and gains ground once the clarity on TRC was received," said Milan Bavishi of Inventure Growth & Securities.

Advertisement
more from Business

Ranbaxy: From industry poster boy to problem child

For Ranbaxy Laboratories, which is nursing a welter of festering wounds from run-ins with regulators to employee exits and penalties for felonies, a change in ownership marks yet another milestone in its nearly five-decade old history.
markets
Advertisement
Most Popular
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved