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Business Economy


Sensex recovers 600 points on heavy buying on last day of week

Sensex recovers 600 points on heavy buying on last day of week

Mumbai, April 19 (UNI) Snapping a losing streak of last four sessions, the BSE Sensex on Friday bounced back 599.34 points to close at 73088.33 on expectation of minimal escalation of tension between Israel and Iran.

On the last day of week the market witnessed roller coaster ride as it opened low amid weak Asian markets but bounced back on the strength of large-cap and financial sectors especially banking stocks.

The National Stock Exchange (NSE) also rose 151.15 points at 22,147.

During the intraday, the sensex was down 672 points at one point before it found heavy buying especially in the last one and hour of the trading.

Investors have been cautious in the IT segment like TCS and Infosys after their announcement of financial performance for the Q4 and full year.

According to data FII were net sellers in yesterday’s trading by Rs 4260 crore while the Domestic Institutional investors were net buyers with Rs 2258 crore.

In the last hour today the market erased earlier losses and surged 722 pts at 73,210.17, days high, before closing at 73088.33 from its previous close in spite of growing tension in West Asia.

The stocks that boosted the market were Bankex by 1.02 pc followed by Metal by 0.85 pc, Financial services by 0.83 pc and Consumer Durable by 0.78 pc.

In 30 scrips, 22 advanced, while 8 declined.

UNI NV SKB AKS

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