BUSINESS

Sensex up 51 points

MUMBAI: In volatile trading, the Sensex on Monday recovered by 50.69 points on fresh bouts of buying at lower levels and after crossing the 6800-mark, closed at 6832.68 on the Bombay Stock Exchange.

Better Asian advices and support from foreign institutional investors also aided the sentiment.

The BSE benchmark 30-share sensitive index opened better at 6790.33 against the previous weekend close of 6781.99. Thereafter, it moved between 6843.62 and 6757.04 before closing at 6832.68.

The Sensex had lost 77 points in the last two sessions on heavy selling pressure after a poor monsoon forecast, brokers said.

However, the interest was so strong on Monday that marketmen even ignored some of the dampening factors such as slowing down of monsoon and low gross domestic product forecast, they added.

According to the meteorology department, the advance of monsoon has slowed down and even the areas which have received it have experienced below normal rainfall.

Meanwhile, the Centre for Monitoring Indian Economy (CMIE) has lowered the GDP forecast for 2005-06 to six per cent from 6.6 per cent on uncertain monsoon prospects.

The major gainers were L&T, ICICI Bank, ONGC, Satyam Computer, Infosys Technologies, HLL, BHEL, HDFC Bank, ITC, TCS and RIL.

— PTI

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