Sensex recovers by 495.67 points

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Mumbai, Jul 30: The benchmark Sensex of the Bombay Stock Exchange recovered smartly by 495.67 points or 3.59 per cent and ended in the green at 14,287.21 on fresh speculative demand from Foreign Institutional Investors (FII's) and strong global clues.

Top heavyweight stocks closed with strong gains, recovering almost all yesterday's losses due to hike in Repo rate. Except FMCG all the BSE indices closed in green. There was a huge buying interest seen in realty, bank, metal, IT, power, oil&gas, capital goods and auto stocks. The BSE midcap and smallcap indices gained over 1.5 per cent each. Rate sensitive sector stocks witnessed short covering in today's trade.

After having a good opening on the back of positive global cues and declining crude price, the Sensex and the Nifty traded high throughout the day. Yesterday, crude hit a three-month low at USD 121.90 per barrel and the Dow gained 2.39 pc, to 11,397.56 and the Nasdaq advanced 2.45 pc to 2,319.62.

Fresh long buying was seen by funds in select large cap stocks.

Rate sensitive sector stocks witnessed short covering in today's trade. Stocks like Tata Steel, MTNL, Ranbaxy witnessed fresh buying.

The Sensex breached the 14,000 mark in early trade and the market remained firm throughout the day.

Reliance Industries (RIL) surged. Banking stocks bounced back from yesterday's steep fall. Metal, IT and realty and power shares also gained. Except BSE FMCG index all the other sectoral indices on BSE gained. HDFC, Tata Steel rose more than 7.5 pc.while Tata Power Company and Reliance Infrastructure rose more than close to 7 pc each. The market breadth was strong as buying was witnessed across the board.

The 30-share BSE Sensex rose sharply by 495.67 points or 3.59 pc at 14,287.21 points at the end of the session from its last close of 13,791.54. The index gained 528.67 points at the day's high of 14,320.21, hit in late trade. The index gained 210.65 at the day's low of 14,002.19 at the onset of the trading session.

The BSE clocked a turnover of Rs 5,273 crore today as compared to a turnover of Rs 5,103.03 crore yesterday.

The broader based S &P CNX Nifty index of NSE was up 123.70 points or 2.95 pc and ended firm at 4,317.20 from its last close of 4189.85. Markest breadth was extremely positive, about 1915 shares advanced, 1016 shares declined and 223 shares were unchanged.

Total turnover stood at Rs 76598.03 crore. This includes Rs 12718.05 crore from NSE Cash segment, Rs 58543.91 crore from NSE F&O and the balance Rs 5336.07 crore from BSE Cash segment.


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