Sensex witnesses counter rally, gains 65 points
The BSE benchmark index, which lost 437 points in the morning trade, bounced back to gain 64.88 points to 15,250.20.business Updated: Jun 12, 2008 18:13 IST
The Bombay Stock Exchange benchmark Sensex moved 65 points up in a counter rally, amid positive push from better-than-expected growth in industrial production.
The 30-share index, which had lost 437 points in the morning trade, bounced back to gain 64.88 points to 15,250.20.
The key index touched the day's low of 14,747.99 and high of 15,270.85 points.
"The stocks were oversold which triggered a counter rally later in the day, while better than expected IIP figures also provided a slight positive push," domestic brokerage firm SMC Global Vice President Rajesh Jain said.
Wider Nifty of the National Stock Exchange rose 15.75 points to 4,539.35, after touching the day's low of 4,392 points and high of 4,550 points.
BHEL gained 2.52 per cent, Reliance Infrastructure 2.40 per cent, State Bank of India 2.32 per cent, Wipro 2.11 per cent, Bharti Airtel 1. 61 per cent and L&T 2 per cent.
Among sectoral indices, Capital Goods rose 88.22 points to 11,989.71 and Oil and Gas 142.70 points to 9,974.94.
Banking index closed in the positive territory with a gain 19.47 to 7,037.89 after dipping to 6,702.33 in the morning, following the hike in repo rate by the RBI. The realty index closed up 17.24 to 5,820.90.