Monday, June 7, 2010

Sensex up 100 points from the day\'s low

The key benchmark indices extended recovery in mid-afternoon trade as index heavyweight Reliance Industries (RIL) cut losses. US index futures pared losses. Asian stocks recovered from an initial sharp slump. Reports that monsoon has revived after being stalled by a cyclone last week, also aided intraday recovery on the domestic bourses. However, all the sectoral indices on the BSE were still in the red. The BSE 30-share Sensex was down 328.45 points or 1.92%, up about 100 points from the days low. Both Mid and Small-Cap indices on BSE outperformed the Sensex

The Sensex fell below the psychological 17,000 mark at the onset of the trading session on weak global stocks. The market trimmed losses in morning trade. The market weakened once again in mid-morning trade. The key benchmark indices hovered near the intraday lows in early afternoon trade. Bank stocks led a recovery from lower level in afternoon trade. The market extended recovery in mid-afternoon trade

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