Sensex bounces back

New Delhi, July 14 (ANI): The benchmark Sensex bounced back to record a hefty gain of 453.38 points at 13,853.70 on the BSE on Tuesday, following Finance Minister Pranab Mukherjee statement that the economy was showing early signs of recovery.

The Sensex had lost nearly 10 percent in the last few trading sessions.

Mukherjee said in Parliament on Tuesday that the government had to increase borrowing to invest more, in the absence of private investment.

The 50-share National Stock Exchange index Nifty surged by 137.35 points at 4,111.40, after touching the day's high of 4,128.90.

The market also received a booster following upbeat economic data from Singapore and Australia and a surge in investor confidence data in Germany.

A better opening at European stock markets and an overnight surge on the Wall Street were other supporting factors.

The realty sector index gained the most, 9.38 percent, to 2,995.16.

The metal sector index was the second-best performer, gaining 5.53 percent to 10,273.75, as market participants felt the improvement in economic conditions would raise demand for base metals. (ANI)