Sensex recovers 148 points at closing
The BSE-30 share index, which lost 438 points in the last two sessions in tandem, settled at 15,017.21 points.business Updated: Aug 13, 2007 17:43 IST
The stock market recovered on Monday with the benchmark BSE Sensex closing 148 points higher on buying by funds triggered by firm Asian markets.
The BSE-30 share index, which had lost 438 points in the last two sessions in tandem with melting global markets, recovered 148.96 points to settle at 15,017.21 points. Stocks of metals, auto, oil and gas and banks gained.
The wide-based National Stock Exchange's Nifty ended 40.30 points higher at 4,373.65 after touching the day's high of 4,383.80 and a low of 4,324.65 points.
Stock brokers said recovery in Asian markets after many central banks around the world pumped funds to ease a credit crunch sparked by losses on higher risk loans in the US, influenced trading sentiments on domestic bourses.
They said the recovery was also of a technical nature as most heavyweight stocks had fallen due to weak overseas trend.
Most sectoral indices ended in the positive zone with metal index leading the recovery by rising 145.22 points at 11,008.83 points. Auto index followed with a gain of 89.53 points at 4,825.93 points.