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Our Bureau

Mumbai, Nov 2

Stock prices on Friday witnessed a high volatility with the benchmark Sensex swinging by over 760 points before gaining 251 points at the end of the day. The index regained early losses to cross the 20-K mark, before settling at 19,976.23, up 1.28 per cent from the previous close. The S&P Nifty went up by 1.12 per cent on the NSE.

Indian markets opened weak, taking cues from global markets that recorded losses overnight, said Ms Shahina Mukadam, Head-Research, IDBI Capital Markets Services Ltd. “Moreover, fear in the investor community about crude price going up to $100/110 by the end of the year as being speculated sent negative triggers in the markets,” Mr Vishwas Agarwal, independent technical analyst, said. However, these sentiments changed towards the afternoon session, with the Bankex index leading the pack. “Banking stocks led the recovery, riding on the back of reports that there was a Cabinet meeting to discuss the rights issue proposal of State Bank of India,” said Mr Agarwal.

The BSE Bankex was up by 3.59 per cent to close at 10,647.95.

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