Sensex rebounds gaining 54 pts, Nifty settles in red

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Mumbai, Oct 22 (UNI) The Sensex today ended with a marginal gain of 54 points, after a deep plunge last week, to settle at 17,613.99 on the Bombay Stock Exchange in a highly volatile market.

The sensitive index bounced back with a gain of 0.31 per cent after an initial slump caused by worries about the US economic outlook.

The National Stock Exchange (NSE) Nifty index settled in red losing 31.30 points, taking a slight dip of 0.60 per cent at 5184.00 as compared to its previous close of 5215.30, dealers said.

Dealers maintained that volatility was high due to alternate bouts of buying and selling. Sustained buying in blue-chip stocks at lower levels and short covering helped the market break its four-day loosing streak. European and Asian markets were trading lower today on worries about the US economic outlook.

The BSE 30-share Sensex stated today with a sharp dip of 300.33 points lower at 17,259.65 and slipped to a low of 17171.45 in a few minutes. It touched an intra-day low of 17,171.45, losing 388.53 points for the day.

However, the Sensex recovered in late trade with a solid rebound. It touched the day high of 17,704.83 during the day. The Sensex oscillated 533.38 points in the day.

Meanwhile, the broader based S&P CNX NSE Nifty opened at 5247.40 with a marginal loss of 13 points as compared to its previous close, It hit the intraday high of 5247.40 and a low of 5070.90, before settling in the red at 5184.00, taking a dip of 31 points.

The total turnover on BSE amounted to Rs 7486 crore as compared to Rs 6013 crore in the previous closing.

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