Sensex recovers modestly by 122.21 points

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Mumbai, Sep 24: After a bearish phase in the last two days, the 30-scrip Sensitive index of the Bombay Stock Exchange (BSE) on Wednesday, Sep 24 recovered modestly by 122.21 points to end higher at 13,692.52 on some fresh speculative demand from Foreign Institutional Investors.

Benchmark indices saw some volatility, ahead of F &O expiry for the month of September. Buying was seen in metal, banking, oil, power and capital goods stocks. However, technology stocks remained under pressure throughout the day. The Sensex rose 122.21 points or 0.9 per cent, to settle firm at 13,692.52. The Nifty index of National Stock Exchange (NSE) managed to cross 4200 during the session but failed to sustain above that level. It closed at 4161.25, up by 34.35 points or 0.83 pc.

BSE indices lost 148.29 points and NSE 46.7 points from day's high of 13,840.81 and 4207.95, respectively.

BSE Metal Index outperformed other indices, rose 2.19 pc or 217.75 points to 10,142.29, led by Sterlite Industries, NALCO, Tata Steel, JindalStainless, Jindal Saw and Hindalco.

Sterlite Industries surged over 15 pc and Madras Aluminium rose over 5 pc after Vedanta's decision to drop its restructuring plan given the changes in global financial markets and investor feedback.

However, the company said that it will remain committed to streamlining corporate structure.

Oil &Gas Index jumped up by 113.87 points or 1.22 pc to 9,435.85.

Total turnover has seen imrovement due to F &O segment, which stood at Rs 83,171.33 crore. This includes Rs 11,812.96 crore from NSE Cash segment, Rs 67,051.71 crore from NSE F &O and balance Rs 4,306.66 crore from BSE Cash segment.

The market breadth was positive on BSE with 1366 shares advancing as compared to 1220 that declined. 91 shares remained unchanged.

BSE clocked a turnover of Rs 4,304 crore today as compared to a turnover of Rs 4,336.47 crore on previous day.

On the global front, Asian markets ended marginally higher.

Shanghai rose 0.70 pc, Hang Seng gained 0.47 pc, Jakarta Composite hiked 0.56 pc, Nikkei was up 0.2 pc, Straits Times rose 0.04 pc and Kospi moved up 0.99 pc. However, Taiwan Weighted gained 0.8 pc.

Trade was suspended from 1125 hrs to 1210 hrs due to disruption in satellite link following sun outage. Trading was alowed upto 1615 hrs as against the normal closing of 1545 hrs. The arrangement would be on till October eight, brokers added.

UNI

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