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Sensex regains 17K with 273-point gain

Snapping a six-session losing streak, the BSE benchmark Sensex ended 272 points higher on Friday, mirroring a rise in most of the global markets after the US Federal Reserve announced to keep the interest rates super low for the next two years.
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BT Online Bureau   Mumbai     Last Updated: August 10, 2011  | 19:35 IST

Snapping a six-session losing streak, the BSE benchmark Sensex ended 272 points higher on Friday, mirroring a rise in most of the global markets after the US Federal Reserve announced to keep the interest rates super low for the next two years.

The Sensex ended at 17,130.51, after trading between 17,256.46 and 17,022.25 during the session. As compared to the previous few sessions, the markets traded in a narrower band, indicating return of some calmness in the markets.  The Bombay Stock Exchange's bellwether index lost 1,455 points in the last five sessions.

On Wednesday, fresh buying was witnessed in auto, IT, consumer durable and realty stocks.

PERSPECTIVE: US sneezes, India catches a cold

Twenty-three stocks among the 30 Sensex components finished in the green. Tata Motors and Maruti gained each gained nearly 6 per cent while Hindalco and M&M rose nearly 6 per cent each.

The domestic sentiment was also supported after Finance Minister Pranab Mukherjee exuded confidence that markets will stabilise in the next few days.

Govt tries to calm nervous markets

Overall, software exporters were in better form on reports of an uptrend in overseas markets. Sensex's second heaviest scrip Infosys shot up nearly 3 per cent, contributing the most to the Sensex rally. TCS also rose nearly 2 per cent.

Broad-based National Stock Exchange index Nifty rose by 88.15 points to 5,161, after touching intraday high of 5,197.95.

--With PTI inputs

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