Friday, January 30, 2009

Closing: Realty and metals lead recovery Some heavy buying in frontline stocks helped benchmarks close to day’s high.

Mirroring their global peers, the Indian markets started the day’s proceedings on subdued note. After a dispirited start, markets started recovering on account of buying at lower levels across the index heavyweights. In the afternoon session, markets staged a rebound to the green zone from early low. The Sensex closed higher by around 200 points, while the Nifty ended up by around 50 points. Stocks from the mid-cap and small-cap indices also ended in the positive territory. While heavyweights from the metal, realty, and energy sectors garnered investors’ interest, stocks from the pharma sector bore the brunt of selling activity. As regards global markets, while the Asian indices closed mixed, the European indices are witnessing a positive trend currently.


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