Sensex back in positive zone, gains 108 points | business | Hindustan Times
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Sensex back in positive zone, gains 108 points

business Updated: Dec 19, 2008 11:57 IST

After a weak opening, stock markets rebounced to trade higher with the Bombay Stock Exchange benchmark Sensex rising by over 108 points at 1100 hours after shares of realty, consumer durables and metal sectors recovered on funds buying.

The Sensex, which fell by 81.06 points in the opening trade, rebounced to trade 108.30 points up, or 1.07 per cent higher to 10,184.73.

Similarly, the wide-based National Stock Exchange index Nifty also rose by 28.25 points to 3,089.00. Stock brokers said expectations of more rate cuts and possibility of the government making a number of announcements as second stimulus package next week following dipping of inflation rate to 6.84 per cent for the week ended December 6 helped the Sensex rebounce.

Buying activity was seen in stocks like DLF Ltd, which rose 5.88 per cent, Maruti Suzuki went up by by 4.74 per cent, Sterlite Industries by 3.53 per cent, Mahindra and Mahindra by 3.85 per cent and Jaiprakash Associates by 3.33 per cent.