Press Esc to close
Friday 18 August 2017
News updated at 2:45 AM IST

Mkts rebound from two-mth lows as Re recovers after FM balm

Mumbai, June 21, 2013 (PTI) 17:24 IST
File Image
The S&P BSE Sensex today bounced back from 2-month lows to end 55 points up on late buying in IT and auto scrips tracking a recovery in rupee, amid Finance Minister P Chidambaram' assurance that there was no need for panic and the RBI will take action to stem the currency slide.

The benchmark index resumed lower at 18,695.80 and dropped further to a low of 18,615.14 on sustained selling pressure. However, Sensex recovered afterwards to 18,820.81 before finishing at 18,774.24, showing a net gain of 54.95 points or 0.29 per cent.

The NSE 50-share Nifty also moved up by 11.75 points or 0.21 per cent to finish at 5,667.65. Also, SX40 index, the flagship index of MCX-SX, closed 19.53 points up, or 0.18 per cent, at 11,138.38.

Shares of Auto, Power and Refinery also moved up on good buying enquiries at current levels while Metal, Realty and Consumer Durables continued to decline on selling pressure.

Among the 30-share Sensex pack today, 16 stocks including Infosys, TCS, ONGC, Bharti Airtel, HDFC, Hero MotoCorp, Maruti Suzuki, Mahindra and Mahindra and Coal India ended higher. 13 scrips including RIL, SBI, BHEL, Hindalco and Jindal Steel closed lower. ITC managed to close flat on some support.

"We are watching the situation, RBI will take whatever action it has to take. We have good economic advisors. We will (do) whatever has to be done... My request is you should not react in panic, its happening around the world," Chidambaram said at a press conference in New Delhi.

The rupee had touched all-time low of 59.98 in intra-day trade yesterday but today recovered to 59.14 at 1600 hours on dollar sales by banks.

Higher European markets where indices in France, Germany and UK firmed up to 1 per cent helped boost domestic stocks.

Most Asian markets ended lower after the US Federal Reserve's plan to wind down bond purchases led to heavy losses on Wall Street, while Japanese stocks ended higher on the back of a weakened yen. Yesterday, Sensex had crashed over 526 points.

Go to Top

Photo Gallery
A fruit vendor, holding an umbrella, waits for customers at a street in Kolkata on Thursday.

A fruit vendor, holding an umbrella, waits for customers at a street in Kolkata on Thursday.

Ranbir Kapoor, actor and co-owner Mumbai City FC meeting fans during the Indian Super League...

Ranbir Kapoor, actor and co-owner Mumbai City FC meeting fans during the Indian Super League...

India's Ramandeep Singh in action against Austria in their final encounter of the Europe Tour...

India's Ramandeep Singh in action against Austria in their final encounter of the Europe Tour...

People from Parsi community cut a cake to celebrate their new year, Navroze, in Ahmedabad on ...

People from Parsi community cut a cake to celebrate their new year, Navroze, in Ahmedabad on ...

Nail artist Murari Aditya, 75 years, shows his 38 inch long nails, at his residence in Kolkata ...

Nail artist Murari Aditya, 75 years, shows his 38 inch long nails, at his residence in Kolkata ...

The first batch of Dasara elephants being welcomed on their arrival at Mysuru Palace on Thursday.

The first batch of Dasara elephants being welcomed on their arrival at Mysuru Palace on Thursday.

: Participants struggle during a greased-pole climbing competition held as a part of independence...

: Participants struggle during a greased-pole climbing competition held as a part of independence...

Activist Irom Sharmila with her husband British citizen Desmond Coutinha after getting married...

Activist Irom Sharmila with her husband British citizen Desmond Coutinha after getting married...

A visitor looks at an art installation, symbolizing the partition of India and Pakistan...

A visitor looks at an art installation, symbolizing the partition of India and Pakistan...

Artist Sunil Paul gives finishing touches on a statue of St. Mother Teresa at his studio...

Artist Sunil Paul gives finishing touches on a statue of St. Mother Teresa at his studio...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.