Sensex overcomes early losses, ends with moderate gain
The benchmark Sensex overcame early losses on the Bombay Stock Exchange on Monday and closed with a moderate six point gain on revival of buying by funds.business Updated: Sep 10, 2007 16:49 IST
The benchmark Sensex overcame early losses on the Bombay Stock Exchange on Monday and closed with a moderate six point gain on revival of buying by funds in fundamentally strong stocks available at low levels.
The BSE 30-share index, which commenced the day with a hefty fall of 226 points, rebounded at the fag-end on buying by stockists and closed higher by 6.41 points at 15,596.83.
The key index touched the day's high of 15,,626.28 and a low of 15,363.53 points.
However, the second wide-based National Stock Exchange index's Nifty closed with a loss of 1.65 points at 4,507.85 as some heavy-weight stocks ended with losses. It touched the day's high of 4,515.25 and a low of 4,452.95 points.
The market remained in bearish mood mostly on fall in information technology stocks led by Infosys on reports of heavy losses on Wall Street after a surprise drop in US payrolls sparked fears that the world's largest economy may be heading for a recession.
With the effect, the IT segment index remained the major loser by falling 88.81 points at 4,570.89, followed by Tech index by 36.94 points at 3,605.36.