The Bombay Stock Exchange benchmark sensitive index, Sensex, gained nearly 160 points on Tuesday on fresh buying by funds in line with firming global trends.
The Sensex closed higher by 159.91 points at 16852.91 against 16693 last Friday as investors purchased heavyweight stocks such as Reliance Industries and Infosys Technologies, carrying nearly 23 per cent weightage on the Sensex.
The National Stock Exchange index, Nifty, regained the crucial 5000-level after almost a week by gaining 47.90 points at 5006.85. Brokers attributed fresh buying by funds to a firm trend in Asian stock markets. Buying for new monthly contract in the derivatives segment on expectations of an early recovery in the global economic recession also supported the firm trend.
The Sensex lost nearly 88 points on Friday last week. The stock market remained closed on Monday on account of ’Vijay Dashmi’.
Rupee sheds 13 paise
The rupee weakened against the on Tuesday on customary month-end dollar buying by refiners to pay for imports. The rupee closed at 48.10/11 against 47.97/98 on Friday. The rupee moved in a range of 47.98 and 48.11 intraday.
