Sensex recovers in line with global markets
Sensex recovered smartly after the overnight slide and on Tuesday ended 85 points up at 9,549.92.india Updated: Jan 24, 2006 17:22 IST
The Bombay Stock Exchange Sensex recovered smartly after the overnight slide and on Tuesday ended 85 points up at 9,549.92 on fairly heavy buying support prompted by a strong turnaround in global markets even as the apex bank revised upwards the GDP growth projections to 7.5-8 per cent.
In the third quarter review of the monetary policy, the Reserve Bank of India (RBI) also kept the bank rate unchanged at six per cent and credited the upturn in the economy to increased agriculture output as well as growth momentum in industrial and services sector.
The Bombay Stock Exchange (BSE) Benchmark 30-share Index (Sensex) opened firm at 9,503.42 and gradually moved upwards to the intra-day high of 9,574.14 before ending the day at 9,549.92 against Monday's close of 9,464.90, a net rise of 85.02 points or 0.90 per cent.
Operators were believed to be engaged in the roll-over of positions to new contract a day ahead of the expiry of January contract in the Futures.
Foreign Institutional Investors (FIIs), which have slowed down inflows since last week, reportedly were buyers in select key counters at the prevailing market levels.
Asian markets bounced back after registering sharp falls on Monday. The Nikkei ended up by 288.24 points, the Hang Seng by 65.80 points, the Taiwan Index by 70 points, the Kospi by 29 points and the Singapore ST by three points.
Shares of Capital goods stole the limelight and scored impressive gains. As a result, the BSE CG Index spurted by 185.58 points or 2.93 per cent to 6,514.65 from previous close of 6,329.07.