Sensex soars 64 pts in opening trade, regains 20k level
Snapping its three-day long losing streak, the Bombay Stock Exchange benchmark Sensex recovered by over 64 points to regain the 20,000 level in the opening trade today.business Updated: Oct 29, 2010 10:20 IST
Snapping its three-day long losing streak, the Bombay Stock Exchange benchmark Sensex recovered by over 64 points to regain the 20,000 level in the opening trade on Friday.
Recovery in oil and gas, consumer durables and auto sector stocks, helped the Sensex trade in the positive zone shrugging-off disappointing second quarter earnings by some corporates.
The 30-share index rose by 64.46 points, or 0.32 per cent to 20,005.50 points. Sensex had lost 362 points in the previous three sessions on profit-booking.
The wide-based National Stock Exchange index Nifty recovered by 34.40 points or 0.15 per cent to 6,022.10.
Analysts said emergence of buying by funds and retail investors driven by beginning of fresh monthly settlement in the derivative segment, influenced the trading sentiments.
They said, however, disappointing earnings by state-run SAIL and ONGC, capped the gains.
Meanwhile, in other markets in Asia, the Hong Kong's Hang Seng Index was marginally down by 0.37 per cent, while Japan's Nikkei shed 0.43 per cent in the morning trade.
In the US, the Dow Jones Industrial Index on Thursday finished 0.11 per cent lower.