Market shows signs of recovery, up 60 pts
The benchmark Sensex, which had lost 60 points in early trade on the Bombay Stock Exchange, regains some lost ground on short covering by operators coupled with buying support at lower levels.business Updated: Nov 13, 2007 11:54 IST
The stock market on Tuesday showed signs of recovery after a weak start with the benchmark Sensex gaining 60 points during morning trade on short covering by operators coupled with buying support at lower levels.
The mid-cap and small-cap shares attracted good activity as investors shifted their focus to these segments in a bid to churn portfolios at the current market levels.
Resuming lower at 18,681.10, the BSE barometer later recovered to touch 18,795.88 in the initial 15 minutes of trade, a rise of 59.61 points over yesterday's close of 18,737.27.
The Sensex later fell back and was quoted at 18,734.73 at 10.30 am on some profit selling by traders. The broader S&P CNX Nifty of the National Stock Exchange also was up by 6 points to 5,623.10 at 10.30 am from previous close of 5,617.10.
The market had some positive impact of indications that the Left may consider allowing the government to discuss with the international atomic watchdog IAEA an India-specific safeguards agreement needed for operationalising the controversial nuclear deal with the US.