Equity markets stage smart recovery, close in green (Second Lead)

May 14th, 2008 - 5:50 pm ICT by admin  

A file-photo of Sensex

Mumbai, May 14 (IANS) Indian stock markets which opened in the red Wednesday morning, witnessed choppy trade but managed to recover in the second half to close in the green, aided by the depreciating Indian rupee which was quoted at 42.63 per dollar. The markets rallied with support from technology, metals, telecom, realty and capital goods stocks.

All sectoral indices, barring public sector undertakings, banking and FMCG were in the green zone. Both Sensex and Nifty indices briefly managed to breach the 17,000 and 5,000 marks respectively.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 16,691.30 points and notched a high of 17,014.94 before closing at 16,976.38 points. It gained 223.52 points or 1.33 percent at the day’s close.

The S&P CNX Nifty index of the National Stock Exchange (NSE), which opened at 4,958.45 points, closed at 5,020.80 after touching the day’s high at 5,026.10. At close, it registered a gain of 62.35 points or 1.27 percent.

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