Sensex recovers 50 points

MUMBAI, SEPT. 26. The Sensex recovered smartly by 49.99 points to close at 2667.34 on the Bombay Stock Exchange today, backed by a fresh bout of heavy buying in select pivotals, partly reflecting a positive overnight trend in New York.

The upsurge in Sensex could be gauged by a sharp to moderate rally in select index heavyweights such as Reliance Industries, Infosys Technologies, SBI, HPCL, L&T and Satyam Computer.

In New York, the Dow Jones Industrial Average improved by about 56 points and the Nasdaq composite index by about three points, despite the prevailing global political uncertainties, dealers said.

Petrochem giant and index-heavyweight, RIL attracted brisk buying from company circles and was locked in the upper circuit band at close, ending the recent gloomy patch after it was battered to lows. Reflecting the trend, the BSE-30 share sensitive index opened slightly better at 2621.89 and gradually moved upwards to touch a high of 2682.59 before ending at 2667.34 against 2617.35, a smart gain of 1.91 per cent. The low of the day was 2615.04. The BSE-100 index also recouped by 24.77 points to 1265.30 from 1240.53.

``Although the Sensex posted a relief rally today, investors were still cautious and hesitant to take fresh large positions because of fears of the retaliatory attacks by the U.S. against Afghanistan could put fresh nervousness in the market", a dealer said.

Local institutions reportedly bought shares of select frontline software counters besides giving support to some old economy shares.

In the specified group, 96 including 21 index based scrips closed with gains while 73 others registered losses.

- PTI

Send this article to Friends by E-Mail

Section  : Business
Previous : Sliding U.S. economy at new risk - IMF
Next     : Rupee ends higher