Sensex up 14 points, closes at 12,543.85
Mar 15th, 2007 by shan
A recovery in Asian markets after an overnight meltdown notwithstanding, the benchmark Sensex remained under pressure and surrendered major part of early gains, but managed to end in positive terrain.
The Bombay Stock Exchange (BSE) 30-share sensitive index (Sensex) opened remarkably higher at 12,655.94 from Wednesday’s close of 12,529.62 and rallied further to a high of 12,789.81 on firm global cues, a smart rise of over 260 points, in morning trade.
However, higher levels attracted profit-booking, expecting possibility that us recession could affect world markets.
The key barometer then dropped to close at 12,543.85, a modest recovery of 14.23 points or 0.11 percent.
On Wednesday, the Sensex had fallen by a massive 453.36 points.
The broader S&P CNX Nifty of the National Stock Exchange (NSE) also edged up by 2.50 points or 0.07 percent to end at 3,643.60 from previous close of 3,638.50.
It and metal counters were in limelight and helped the Sensex to close in green while banking and auto shares bore the brunt of heavy selling, cutting early sharp gains.
Foreign Institutional Investors (FIIs) turned net sellers and after pulling out Rs 861.40 crore on 14th March.
They had withdrawn Rs 541.37 crore (provisional) from cash and Rs 1281.96 crore from derivatives on 15th March.
Meanwhile, in Asia, the hang sent finished up by 132.51 points, the Nikkei-225 by 183.50 points, strait times by 41.39 points, Kospi by 19.56 points and Taiwan’s weighted index by 125.69 points.