Friday close: Sensex up by 99 points
The BSE benchmark index, the Sensex, opened at 16,454.03 points and touched a high of 16,540.49 before closing at 16,415.57.business Updated: May 30, 2008 16:42 IST
The Bombay Stock Exchange benchmark index rose by over 99 points on Friday on emergence of buying by funds in heavy-weight stocks led by metal and capital goods sector.
The Sensex, which had lost 209 points on Thursday, bounced back and gained 99.31 points to touch 16,415.57. It touched the day's high of 16,540.49 and a low of 16,314.99 points as index-linked stocks of BHEL, Larsen and Tata Steel rose smartly.
The 30-share based index, Sensex, posted a loss of 4.7 per cent during the May month, after rising 10.5 per cent in April.
The BSE barometer has lost 19 per cent this year so far.
The second wide-based National Stock Exchange index, Nifty, gained 34.80 points at 4,870.10, after touching the day's high of 4,908.85 and a low of 4,833.45 points.
Capital goods index gained the most rising by 323.61 points to 13,150.64 followed by metal index by 235.18 at 16,914.63. IT index rose by 96.03 points at 4643.79.
Capital goods stocks led by Larsen and Toubro rose to its highest in more than a week after the company said it expects order growth of 35 per cent to continue on new contracts.