Date:13/09/2006 URL: http://www.thehindu.com/2006/09/13/stories/2006091307841600.htm

Business

Sensex recovers on strong industrial growth

MUMBAI: Bolstered by a robust industrial growth, the Bombay Stock Exchange key index, Sensex, came out of Monday's crash and ended at 11660.79 , showing smart recovery of 110.10 points on Tuesday.

On Monday, the BSE benchmark plunged by 368 points, its biggest fall since July 17, on heavy selling by foreign funds in derivatives segment.

Buyers became active after the report that the country's industrial production shot up by 12.4 per cent in July this year against 4.7 per cent in the same month last year.

Banking and IT shares were at the forefront and most of them finished with sharp to moderate gains.

Petro-chem giant and heavyweight, Reliance Industries was the most sought after scrip and ended with smart gains.

The BSE-30 share sensitive index opened slightly better at 11564.95 against Monday's close of 11550.69 and after dipping temporarily to a low of 11444.18, recovered smartly after midsession and hit an intra-day high of 11671.80, before concluding at 11660.79.

On the National Stock Exchange, the S&P CNX Nifty recouped by 23.75 points or 0.71 per cent to 3389.90 from the previous close of 3366.15. — PTI