Sensex on a roller coaster ride

MUMBAI MAY 29. The benchmark survived to end in the positive terrain on the Bombay Stock Exchange today with a modest gain of 13.41 points to close at 3160.24, garnering support at sharply lower levels.

Despite overnight's weak advices from Nasdaq, software counters, particularly second-rung scrips, made a smart turnaround and were mainly responsible for the reversal of the market trend, a dealer said.

The recently battered public sector enterprises (PSEs) shares from the oil segment also attracted good institutional buying at lower levels while others closed with moderate losses on profit-booking.

Had there not been a sharp setback in the heavily weighted stock Hindustan Lever, the Sensex would have disclosed better gains, dealers said.

Reflecting the roller-coaster ride, the BSE-30 share sensitive index opened firm at 3155.67 and immediately touched a high of 3179.85. Later, it met with strong resistance and dropped to the intra-day low of 3108 only to bounce back to finish at 3160.24 against 3146.83. The broad-based BSE-100 index also recovered by 8.82 points to 1611.76 from 1602.94. — PTI

Recommended for you