Markets bounce from its early lows, Sensex up 108 pts
The 30-share index of the Bombay Stock Exchange was quoted at 13,569.26, a gain of 107.66 points from its previous close.Updated: Jul 01, 2008 12:26 IST
The stock markets bounced back after touching a low of 13,332.91 and was trading in the green at 1100 hrs in choppy trade as buying emerged at lower levels amid weak global cues.
The 30-share index of the Bombay Stock Exchange was quoted at 13,569.26 at 1100 hrs, a gain of 107.66 points from its previous close.
Similarly, the 50-share S&P CNX Nifty of the National Stock Exchange firmed up by 18.50 points to 4,059.05 at 1100 hrs from its last close.
Marketmen said buying emerged at lower levels after the market touched the day's low immediately after resumption of trading despite weakness in global markets and continued concerns over political uncertainty.
They said realty stocks were hit hard with the BSE realty index down 3.74 per cent at 1100 hrs because of a hike in lending rates in a range of 0.50 per cent and 0.75 per cent.
Led by the country's largest private sector company RIL, refinery shares rallied smartly as global crude oil prices fell to around USD 140 a barrel level in Asian trade this morning.
IT shares also registered marked gains as the rupee breached 43.00 a dollar level yesterday.