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Sensex recovers on late buying, gains 49 points




 A late burst of buying helped the Sensex going up by 49 points to close at 31,262.06 but it was not enough to stop the bourses from recording their first fall in five weeks.

          The early sell-off was triggered by rumours that IT bellwether Infosys' promoters were planning to sell their stakes, dragging the stocks to hit their lowest-level in over a month.

          Infosys Ltd ended down 0.80 per cent, after falling as much as 3.5 per cent earlier.
          Brisk buying was seen across sectors such as realty, metal, auto, banking and healthcare amid a firming trend in global markets.
          Furthermore, covering-up of short positions by bears too supported the late recovery in stocks, helping wipe off initial losses.
          The 30-share index started on a bearish note at 31,196.86 stayed in the negative terrain for most part of the day to hit a low of 31,087.28 as participants indulged in trimming their positions to lock in gains.
          However, late buying helped it stage a strong comeback to wipe off the day's losses to scale a high of 31,289.99 before ending 48.70 points, or 0.16 per cent, higher at 31,262.06. The gauge had lost 57.92 points in the previous session.
          The NSE Nifty also went up by 21 points, or 0.22 per cent, at 9,668.25, after moving between 9,608.15 and 9,676.25.
          BSE sectoral indices led by realty, metal, auto, banking, healthcare and capital goods led the recovery, rising up to 2.60 per cent.
          Both the BSE and NSE indices recorded their first weekly fall in five weeks by losing 11.23 points, or 0.03 per cent and 14.75 points, or 0.15 per cent.
          The broader market outperformed the key indices with the small-cap index rising 0.50 per cent and the mid-cap index rose 0.28 per cent.





Editorial

Précis 2017
From asking his party men to ‘live a simple life and serve the people’ to taunting the BJP for its ‘crocodile tears’, Chief Minister and BJD supremo Naveen Patnaik has not only become politically invincible, he seems to be so in the coming years too.

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Business

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Entertainment

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Interview

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Leisure

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