The Hindu : Front Page : Sensex retraces 10000-level

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Wednesday, Dec 17, 2008
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Sensex retraces 10000-level

Gains 145 points on hopes of Fed rate cut

MUMBAI: The Bombay Stock Exchange sensitive index spurted and regained the 10000-level at the fag end of trading but closed the session a little lower below this psychological level on Tuesday.

Regaining the 10000-level after 22 sessions, the barometer yielded some grounds to close at 9976.98 against 9832.39 on Monday, still a gain of 144.59 points.

The day’s trading was marked by another round of alternate bouts of buying and selling. However, towards the end of the session, there was a sudden buying sending the index to the day’s high of 10009.

Marketmen said sentiment improved towards the end of the session in anticipation of the U.S. Fed cutting interest rate in its policy meeting on Tuesday night.

The wide-based National Stock Exchange index Nifty gained over 60 points to end at 3041.75.

IT stocks bounced back into the positive terrain after a string of losses in the past few sessions. HCL Technologies surged by 17.99 per cent to Rs. 122.95, Infosys Technologies by 1.98 per cent to Rs. 1122.90, Tata Consultancy Services by 2.37 per cent to Rs. 480.75, Wipro by 1.96 per cent to Rs. 239.40 and Satyam Computers by 0.49 per cent to Rs. 226.50.

Rupee strengthens

The rupee strengthened against the dollar on Tuesday, buoyed by broad dollar weakness. The rupee closed at 47.92/93 against Monday’s close of 48.05/06. It rose to 47.79 in the mid-session. It moved in a range of 47.79 and 48.02 before closing at 47.93 a dollar. — PTI

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