Sensex bounces back, 173.75 pts up on easing inflation

The Bombay Stock Exchange benchmark Sensex shot up by 173.75 points to 20,045.90 at 1230 hrs, regaining the psychological 20,000 benchmark at midsession today, on fund-based buying influenced by reports of fall in food inflation.

The Bombay Stock Exchange (BSE) benchmark Sensex shot up by 173.75 points to 20,045.90 at 1230 hrs, regaining the psychological 20,000 benchmark at midsession on Thursday, on fund-based buying influenced by reports of fall in food inflation.

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The Sensex, which had lost 297 points in last two trading sessions, bounced back on the rally by refinery and fast moving consumer goods.

The broad-based National Stock Exchange (NSE) index Nifty rose by 52.75 points to 6,034.85 at the same tine. Both the indices had commenced the session with moderate gains.

Buying activity picked up as the food inflation declined to 15.53 per cent for the week ended October 9, on improved supplies and declining prices of certain vegetables.