Sensex recovers just the previous session's loss | business | Hindustan Times
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Sensex recovers just the previous session's loss

business Updated: Jul 09, 2009 17:48 IST

Alternating days of rise and fall for the BSE benchmark Sensex since the Budget presentation ended on Thursday as the benchmark recovered just the previous session's loss, though intra-day volatility continued.

Fluctuating in a 235-point range, the Bombay Stock Exchange 30-share barometer later settled the day at 13,757.46, a loss of 11.69 points or 0.08 per cent from its previous close.

The market recovered from its intra-day low of 13,643.97 on the IMF's upward revision of India's growth forecast to 5.4 per cent for 2009 even as it projected the world economy to shrink 1.4 per cent this year.

SMC Global Vice-President Rajesh Jain said, "The markets on Thursday were very volatile and the investors were cautious ahead of the Infosys results tomorrow."

"The European and Asian markets were a bit better and the Indian markets were oversold; that is why the markets rebounded from its lows and ended almost flat today."

The broader 50-share Nifty of the National Stock Exchange also ended steady at 4,080.95 from its last close of 4,078.90.

Sustained pullout by foreign funds and unfavourable rainfall so far, however, caused concern among investors and clouded market sentiment.