The Hindu Business Line : Sensex rebounds, gains 53 points

AFTER the beating that the bourses took over the last two trading sessions, value buying helped prop the indices up on Friday. The Sensex regained 53.07 points and the Nifty gained 17.15 points, to close at 6420.46 and 2015.50, respectively.

The market also recovered because of short covering as many market participants had gone into trade anticipating yet another slide.

Media stocks witnessed a smart rally, after Mr P. Chidambaram's announcement that foreign direct investment in the media sector would be hiked. Mid-Day, NDTV, Sri Adhikari Brothers all ended with strong gains. Banking stocks also had a good day at the bourses. BSE's Bankex, ended the day's trade with an appreciation of 1.18 per cent. IndusInd Bank, Karnataka Bank and Bank of Punjab were the big gainers.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Baglihar project talks fail; Pak threatens to move World Bank

India signs pact to import 7.5 mt LNG from Iran

Expert panel set up to review IT Act

Govt plans pharma index to track prices

Tata Finance to merge with Tata Motors

4 entities issued show cause notices for May 17 stock crash

Sensex rebounds, gains 53 points

Dena Bank IPO at Rs 27 a share

Jet Airways files IPO draft prospectus with SEBI

Naresh Goyal fully owns Jet Airways

Contributions to The Hindu Relief Fund