Sensex makes a come-back as Sept contract expires

Fag-end buying on Thursday helped the Bombay Stock Exchange benchmark Sensex recover its early losses and end the day nearly 62 points up as speculators rushed to cover their pending positions.

The 30-share Sensex, which had tumbled 224.58 points during the day, bounced back in the last 30-minutes of trade to close higher by 61.93 points at 16,781.43 on the back of a sharp recovery in heavy-weight stocks like Reliance Industries, Housing Development Finance Corp and ICICI Bank.

Similarly, the wide-based National Stock Exchange's Nifty recovered by 16.60 points to end at 4,986.55. It briefly recovered the crucial 5,000 points level on late buying.

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Sensex gain for fifth day, fag-end selling reduces margins

The Bombay Stock Exchange benchmark Sensex posted gains for the fifth straight day on Thursday, adding over 30 points in volatile trading even as investors sold shares to book profit.

The 30-share index, which had gained 785 points in last four trading sessions, added 33.31 points to close at 16,216.86 points.

The wide-based National Stock Exchange index Nifty moved closed with moderate gain of 5.15 points at 4,819.40 points.

Marketmen said selling sparked in the last 30 minutes of trade on reports that the country's exports slid for the 11th month in a row in August and inflation inched upwards reduced the earlier gains.

The BSE barometer had gained 248 points in opening trade.

European stock markets turning weak in early trading also impacted adversely the trading sentiments.

Market heaviest and petro major Reliance led the losers while the second heaviest software exporter Infosys Technologies led gainers' pack.
RIL closed lower by 0.93 per cent at Rs 2,149.20.

Infosys Technologies gained 1.92 per cent to Rs 2,235.10, after Nomura Holdings raised its ratings.

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