|
The benchmark Sensex today opened higher by 162 points on heavy short-covering by speculators and increased buying by domestic financial institutions.
The Bombay Stock Exchange barometer, which had lost 322.77 points yesterday, rose by 162.49 points to 8,613.50 despite meltdown on the global equity markets.
The wide-base National Stock Exchange's Nifty moved up by 58.15 points at 2,611.30 points.
"Covering-up of short positions at prevailing lower levels by speculators helped stocks to trade in the positive zone," said Deepak Pahwa, a dealer at Delhi-based stock brokerage house.
Marketmen said sentiment turned better after government data showed inflation declined by 08 per cent to 8.90 per cent during the week ended November 8.
Country's most valuable company Reliance Industries gained Rs 19.40, or 1.83 per cent, at Rs 1,078, while ONGC stocks gained Rs 24.50, or 3.77 per cent, at Rs 674.90 mainly contributed rise to the Sensex.
SBI stocks gained Rs 26.75, or 2.45 per cent at Rs 1,119.30.
Other gainers were BHEL, Larsen and Toubro, Bharti Airtel, DLF Ltd, Grasim Industries, Maruti, Mahindra, Mahindra and Sterlite Industries. Tata Power and Tata Consultancy.
However, Asian markets registered losses in the range of 2-5 per cent after the Wall Street plunged for the second straight day.
US's Dow Jones Industrial Average closed lower by 5.56 per cent yesterday.
| 
