Sensex back to winning ways; realty, IT stocks attract buying
Riding on a rally in realty, banking and IT stocks, the Bombay Stock Exchange benchmark index today ended higher by over 75 points to resume its winning ways.business Updated: Apr 17, 2009 20:48 IST
Riding on a rally in realty, banking and IT stocks, the Bombay Stock Exchange benchmark index today ended higher by over 75 points to resume its winning ways.
Aggressive buying by foreign institutional investors saw the bellwether index rising by close to 400 points before profit selling in the last session ahead of the weekend washed out the lion's share of initial gains.
Realty, banking and IT counters bucked profit-booking to help the benchmark Sensex cut short its steep losses overnight and settle the day higher by over 75 points.
The 30-share barometer touched a high of 11,339.47, a rise of about 392 points from yesterday's close. However, profit-booking pulled it down to settle the day at 11,023.09, still a rise of 75.69 points or 0.69 per cent over its last close.
Similarly, the 50-issue Nifty of the National Stock Exchange also recovered by 14.90 points or 0.44 per cent to 3,384.40 from its previous close.
FIIs were said to be net buyers to the tune of Rs 479.09 crore while domestic funds sold shares worth Rs 1,124.24 crore on Thursday as per provisional data.
Asian indices ended mixed while European markets resumed higher, partly helping the bellwether index to land in positive terrain at close.