Benchmark indices bounced back on Thursday as traders covered their short positions on the last day of expiry of the August series in the derivatives segment.

The BSE Sensex ended the day at 18,401, up 405 points or 2.25 per cent from Wednesday’s close, while the NSE Nifty settled at 5,409, up 124 points or 2.35 per cent.

Led by oil and gas, metals and fast-moving consumer goods, all sectoral indices closed in the green on the BSE. The oil and gas index rallied the most, rising 2.86 per cent from its previous close.

Sudip Bandopadhyay, MD and CEO, Destimoney Securities, said: “Today’s improvement in equity market movement was expected after yesterday’s steps announced by the RBI, on providing a separate window for providing dollar credit to oil marketing companies. This also helped the currency recover some lost ground. Moreover, an improvement in the Asian markets added to the overall positive sentiment in our markets.” “Going forward, the markets will continue to remain volatile and would await further structural measures from the Government and the RBI,” he added.

Rupee recovers

The rupee, too, showed an improvement to close at 66.58 against the dollar from the previous record low of 68.80. However, there was strong volatility intra-day, swinging between a high of 66.51 and a low of 67.90.

manisha.jha@thehindu.co.in

(This article was published on August 29, 2013)
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