Sensex soars 292 points

Sensex soars 292 points

By agencies   |   Wednesday, 26 April 2006, 07:00 Hrs
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MUMBAI:Markets bounced back sharply on Wednesday with a sharp jump of more than 300 points in the benchmark Sensex in the intraday trade, supported by robust buying interest across the sectors.

The BSE Sensex settled 291.75 points higher at 11,938.53, after surging to an intraday high of 11,965.09.
The NSE Nifty closed 93.10 points up at 3,555.75, after soaring nearly 100 points to as high as 3,562.30 in the intraday trade.

Wednesday's sharp recovery on the bourses followed a 383-point plunge in the benchmark Sensex in the past couple of trading sessions.

Engineering and construction major L&T and pharma major Ranbaxy were the only two Sensex scrips that closed in the red, while Maruti, Cipla, Tata Steel, ACC, ONGC, Tata Motors, Wipro, Bajaj Auto, Hindalco and HLL were the biggest gainers on the Sensex.

The overall market breadth was also positive with 61.6 percent of the total BSE scrips closing with gains, as against 35.9 percent closing in the red.

Buying interest was conspicuous across a host of sectors, with mid-cap and small-cap scrips also joining the blue-chip stocks with robust upswing in their share prices. All the sectoral indices on the BSE closed in the positive territory, while metal index led the pack with a whopping jump of more than 4 percent.

The BSE Midcap Index settled 1.6 percent higher at 5,684.92, while the BSE Small-cap Index closed 1.82 percent up at 7,194.26 after scaling a new life-time high of 7,204.63.

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