COMMENTARY
INTERVIEWS
SPECIALS
CHAT
ARCHIVES
SEARCH REDIFF

Markets volatile: Sensex takes a 300-point swing, recovers 220 points, closes at 4492; Nifty at 1334, rupee-$ 43.40

Domestic financial institutions turned buyers as if with a vengeance at the Bombay Stock Exchange today. The 30-share benchmark, the Sensitive Index or Sensex, first dropped to the 4200.

Then, the UTI and LIC made heavy purchases, dealers said. The UTI apparently made purchases at low levels.

There was across-the-board buying on the major bourses. Pivotals recorded sharp gains. Software and pharma shares led the recovery.

A host of shares hit the upper limit of the circuit-breaker: Infosys Technologies, PSI Data Systems, Sriven Multitech, Aptech, Satyam, BSES, BHEL, Reliance, Ranbaxy, Hindalco, Tisco (Tata Steel), ICICI and NIIT.

The Sensex ended at 4492, up 221 points or 5.20 per cent over Monday's close. It swung between 4200 and 4500 during the day.

At mid-afternoon, at the National Stock Exchange, the S&P CNX Nifty was at 1310, up 40 points or 3.14 per cent over Monday's close. The Nifty closed at 1334, up 64 points or 5.03 per cent.

At the inter-bank foreign exchange market, the Indian rupee was steady at 43.40 to a US dollar.

Business