Sensex up 165 pts; recovers on value-buying, short covering
The BSE benchmark Sensex today recovered from 2-week lows and added over 165 points as investors picked up stocks at attractive levels amid reports of a rating agency upgrading Indian equities.india Updated: Mar 23, 2012 17:08 IST
The BSE benchmark Sensex on Friday recovered from 2-week lows and added over 165 points as investors picked up stocks at attractive levels amid reports of a rating agency upgrading Indian equities.
The Sensex, which had tumbled 405 points yesterday to touch 2-week lows on Thursday, gained 165.27 points or 0.96% to 17,361.74 led by realty and IT sectors.
Similarly, NSE 50-scrip index Nifty rose 49.75 points or 0.95 % to 5,278.20. It had lost 136 points on Thursday.
Marketmen said the trading sentiment good a boost after reports that Goldman Sachs has upgraded Indian equities, saying that domestic growth will pick up, as stock valuations remain "relatively attractive."
They said buying at lower levels after Thursday's steep fall also helped the market.
Reliance Industries rallied 1.02 %, while Infosys by 1.44 %. The two carry 20 % weight on Sensex.
Realty sector index rose 1.61 % to 1,790.51, followed by IT index - 1.38 % to 6,095.08. Banking index rose 1.27 % to 11,860.42.