Sensex recovers by 164 points, closes at 12,116
Sterlite and Hindustan Zinc were in the forefront of getting investor response on the back of favourable global cues, helping the benchmark Sensex to recover sharply by over 164 points to close at 12,116.business Updated: May 07, 2009 17:36 IST
Sterlite and Hindustan Zinc were in the forefront of getting investor response on the back of favourable global cues, helping the benchmark Sensex to recover sharply by over 164 points to close at 12,116.94.
The Bombay Stock Exchange 30-share barometer moved in the range 12,143.95 and 11,981.13 before ending at 12,116.94, a rise of 164.19 or 1.37 per cent from its previous close.
The 50-issue Nifty of the National Stock Exchange also spurted by 58.85 points or 1.62 per cent to 3,683.90.
Besides the FMCG segment, all other sectoral indices ended in the green with the metal counters taking the lead following firm trends on the London Metal Exchange (LME).
The metal sector index gained the most, rising 8.22 per cent to 8,155.058 as leading copper manufacturer Sterlite Industries was up 13.78 per cent to Rs 517.45 and Hindustan Zinc 14.77 per cent to Rs 506.
Taurus Mutual Fund Managing Director R K Gupta said, "The markets today went up mainly on global cues as most of the Asian indices were up. Although markets worldwide have discounted the impact of the Stress Test, the results today would keep the stocks under pressure tomorrow."
Asian indices ended higher today on better-than-expected US job reports and an assurance from US Treasury Secretary that none of the country's biggest banks is insolvent.