Sensex rebounds 331 points in late buying surge

Our Bureau Mumbai | Updated on June 17, 2014

Sensex gained 331 points after the Reserve Bank of India Governor Raghuram Rajan assured that India is currently better prepared to deal with any shocks on the external front compared to last year.

The benchmark index opened marginally lower at 25,189 against the previous close of 25,190. It made a high of 25,546 and low of 25,104 before closing at 25,521.

The BSE Mid-Cap index gained 135 points to 9,101 while the small-cap index was up 197 at 9,902.

The total turnover on BSE was higher at Rs 3790 crore against Rs 3423 crore recorded on Monday.

In NSE, Nifty was up 98 points at 7,632.

Maruti Suzuki gained two per cent to Rs 2,418 after a foreign brokerage maintained buy rating on the stock with a target of 15 per cent price increase.

Telecom stocks were in demand. Shares of Idea Cellular gained four per cent to Rs 141 after the Reserve

Bank of India hiked FII investment limit to 49 per cent from 24 per cent of the paid-up capital of the company. Fertilizer shares were in demand on renewed buying.

Major gainers were JP Infra Tech (13%), IRB Infra (8%), IFCI (6%), Hindustan Copper (6%), Federal Bank (5%), Syndicate Bank (5%), ABB India (5%), Berger Paints (5%) and Tata Chemicals (5%).

Prominent losers were Suzlon Energy (-5%), Sun TV Network (-2%), Godrej Cons

(-2%) and Bhushan Steel (-2%).

Published on June 17, 2014

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