The Hindu : Business : Sensex recovers after three-day fall

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Sensex recovers after three-day fall

Firm Asian cues trigger buying in metal and refinery stocks

MUMBAI: The Bombay Stock Exchange sensitive index, Sensex, weathered choppy trade to land into positive terrain at close on Wednesday following three days of decline, helped by buying in metal and refinery counters amid firm Asian cues.

The Sensex moved throughout the day unevenly in a range of 8501.46 and 8373.24 before ending at 8446.49, a rise of just 19.20 points against Tuesday’s close of 8427.29. It tumbled by 527.57 points or 5.89 per cent in the last three days, clocking its lowest close in more than three years on Tuesday.

The 50-share Nifty of the National Stock Exchange also recovered by 22.80 points or 0.87 per cent to 2645.20 from its last close.

According to brokers, the market ended in the green due to a sharp rise in Asian stocks, mainly supported by expectations that the Chinese government would step up efforts in reviving the economy, helping the entire region.

Rupee recovers 43 paise

The Indian rupee rebounded sharply by 43 paise to close at 51.54/55 against the dollar on Wednesday on heavy dollar selling by corporates at higher levels, snapping a long seven-session losing streak.

The rupee resumed steady at 51.95/97 a dollar from Tuesday’s close of 51.97/98 and touched a low of 52.04 in early trade. — PTI

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