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Wednesday, July 8, 2009

Sensex claws back, stabilises

Wednesday, July 8, 2009
A day after plunging 869 points on Budget shock, the benchmark index of the Bombay Stock Exchange (^BSESN : 13760.74 -409.71), Sensex, on Tuesday gained 127 points in hindsight and low selling pressure. The projected fiscal deficit of 6.8 per cent and silence on disinvestment plans in Finance Minister Pranab Mukherjee's budget speech caused the market to tumble intra-day. However, it recovered by the end of the day's trade as sentiments stabilise and sellers held on to stocks, and the Sensex gained 0.9 per cent to end at 14,170. The national Stock Exchange's Nifty (^NSEI : 4078.9 -123.25) also closed 0.8 per cent up, or 36 points, at 4,202.Auto, FMCG and capital goods gained most while PSU and oil and gas were the major losers. Shares of Reliance Natural Resources Ltd and Suzlon witnessed high number of trades.

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