Sensex zooms 384 points at midsession
The BSE benchmark Sensex spurted by over 384 points at midsession on Friday, as brisk buying by funds in heavy-weight stocks wiped off initial losses.business Updated: Nov 23, 2007 15:42 IST
The Bombay Stock Exchange benchmark Sensex spurted by over 384 points at midsession on Friday, as brisk buying by funds in heavy-weight stocks wiped off initial losses.
The Sensex, which snapped a six-day long falling trend, bounced back by 384.14 points at 18,910.46 at 1300 hrs with most of the capital goods, realty, metal and refinery stocks climbing on fresh buying.
The key stock market index rose after its second six-day losing streak in a month, the longest since May 23, 2002.
The National Stock Exchange index, Nifty, too rose by 119.25 points at 5,638.60.
In capital goods section, Larsen and Toubro, one of the biggest engineering company stocks, rose by Rs 132.10, or 3.4 per cent, to Rs 4,074, recovering from its 10 per cent fall in the past five trading sessions.
Reliance Energy, which dropped 12 per cent in the past three days, gained Rs.77.90, or 4.9 per cent, to Rs.1,683.
Siemens India, the local unit of Europe's biggest engineering company, shot up by Rs 228.85, or 12 per cent, to Rs 2,160, after the company said profit more than doubled in this quarter.