Date:02/09/2008 URL: http://www.thehindu.com/2008/09/02/stories/2008090250881800.htm

Business

Sensex recovers early losses

MUMBAI: The Sensex recovered most of the losses suffered in early trade on Monday but still closed lower by over 60 points at 14498.51 against 14564.53 last Friday. It touched the day’s low of 14281.10 and a high of 14547.41 points.

Marketmen attributed the early tosses to investors’ concerns that India Inc’s profits could take a hit as domestic and global economic growth slowdown. However, financial companies and banking stocks saw a late recovery on expectations of lending rates remaining unchanged for the time being after a moderate decline in inflation.

The National Stock Exchange index Nifty also eased by 11.35 points to 4,348.65. The index breached the 4300 level to hit a low of 4281.35, and touched the day’s high of 4365.00. — PTI