Sensex regains 10K level; up 450 pts at midsession
The 30-share index, which had been on a falling streak for the last few sessions, bounces back by 450.18 points at 10,425.53.business Updated: Oct 20, 2008 13:04 IST
The Bombay Stock Exchange benchmark Sensex rose by over 450 points at midsession on Monday as investors picked up battered software and banking stocks, considering them a better buy.
The 30-share index, which had been on a falling streak for the last few sessions and pierced through a psychological 10,000 mark, bounced back by 450.18 points at 10,425.53 at 1230 hrs.
Similarly, the wide-based National Stock Exchange index Nifty shot up by 130.55 points at 3,204.90 at the same time as almost all the index-related stocks recorded handsome gains.
Stocks of IT sector moved up by 201.40 points at 2,738.67 and banking sector index by 231.41 points at 5,778.10.
Some of the heavy-weight metal stocks also led to the upward movement on the bourses.