Markets open on positive note after 'Black Monday'
Tuesday, 18 May 2004, 19:30 IST
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MUMBAI: After the Monday mayhem that saw Indian stock markets dip to a historic intra-day low of 17 percent, equities bounced back in early trading hours Tuesday with a key index going up by 6.35 percent over previous day's close. The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was ruling at 4,791.34 points at 11:00 a.m., up 281.18 points or 6.35 percent over Monday's close. Barring one, all stocks that comprise the 30-share Sensex were trading at higher levels. State-controlled financial institutions were reportedly active buyers in the markets. Meanwhile, the top brass of market regulator Securities and Exchange Board of India (SEBI) met with officials of the National Stock Exchange and the Bombay Stock Exchange here in the morning to review the situation following 'Black Monday.' "There was no crisis in the market. All systems are in place and we are on a continuous watch," SEBI chairman G.N. Bajpai said. On Monday, the Sensex had dipped 17 percent to register the worst intra-day low in BSE's 135-year history.
Source: IANS
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