Sensex makes substantial recovery (Lead)

May 14th, 2008 - 3:40 pm ICT by admin  

Mumbai, May 14 (IANS) The Indian equities markets that opened in the negative zone Wednesday managed to recover susbtantially by early afternoon. But public sector undertakings, oil and gas, power and banking scrips continued to be under selling pressure. At 1.30 p.m., the 30-share BSE Sensex was up 179.29 points or 1.07 percent to 16,932.15, which was the day’s high.

At the day’s low, the Sensex touched 16,626.35.

At the same time the broader based S&P CNX Nifty index of the National Stock Exchange managed to breach the 5,000 points mark briefly before sliding back. At 1.30 p.m., it was up by 37.85 points or 0.78 percent at 4,996.30.

However, the market breadth remained weak with low trading volumes on BSE. While 1,272 shares advanced, 1,237 declined and 78 remained unchanged.

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