Sensex breaks two-day fall, up 35 points
The Bombay Stock Exchange benchmark Sensex, which had lost 240 points in the past two sessions and shed another 100 points during the day, rebounded to close higher by 35.61 points to 16,912.77.business Updated: Dec 16, 2009 16:45 IST
Erasing the early sharp decline, the Bombay Stock Exchange benchmark Sensex on Wednesday ended up over 35 points on aggressive buying, mostly of technology stocks, by the fund houses.
The Sensex, which had lost 240 points in the past two sessions and shed another 100 points during the day, rebounded to close higher by 35.61 points to 16,912.77 led by the IT counters, after Infosys Technologies said it opened its first development centre in Brazil.
The wide-based National Stock Exchange index Nifty too rose by 9 points to 5,042.05, after dipping touching a low of 5,001.80 points during the day.
Among the 30-share Sensex, 16 shed minimal to notable ground, while 14 gains. The IT index led the rally gaining by 1.64 per cent to 5,034.15 as the segment major and Sensex heavyweight Infosys gained Rs 38.25 to Rs 2,544.80.
Another notable gainer was the telecom major Bharti Airtel which rose by Rs 8.95 to Rs 325.75 on reports it may buy 70 per cent of the Bangladeshi telco Warid Telecom.
Like yesterday, the banking counter continued to come under selling pressure, with the market leader State Bank leading the fall with a sharp by Rs 28.10 loss to close at Rs 2,152.65 on reports that the Reserve Bank may take early measures to control the spiralling inflation.