Date:21/08/2008 URL: http://www.thehindu.com/2008/08/21/stories/2008082151061900.htm

Business

Market snaps five-day losing streak

MUMBAI: The Bombay Stock Exchange benchmark Sensex on Wednesday spurted by over 134 points to snap its five-day long losing spree with metal, capital goods and realty sectors attracting buying support amid positive cues in Asian bourses.

The 30-share Sensex, which lost nearly 960 points in the past five sessions, rebounded to post a gain of 134.50 points at 14678.23.

The key index touched the day’s high of 14746.20 and a low of 14584.03. The 50-share Nifty of the National Stock Exchange also gained 47.50 points to close at 4415.75 against its previous close.

Market participants said the domestic bourses were driven by global factors in the absence of any major local trigger and a strong bounce in Asian markets pushed up domestic stocks. They said markets pared gains in the last 30 minutes of trading on profit booking at higher levels. — PTI