The Hindu Business Line : Sensex rebounds on `value-picks'

STOCK markets rebounded smartly on Tuesday on broad-based buying and "value-picks" by foreign funds after many stocks became "attractive" following Monday's fall, traders said.

The benchmark BSE-30 surged by 197.27 points (2.17 per cent) to end at 9283.16 points, the biggest gain in two months. The broader BSE-100 and BSE-500 indices shot up by 107.37 points (2.25 per cent) to 4887.74 points and 79.50 points (2.17 points) to 3740.62 points, respectively. The S&P CNX Nifty index closed 56.3 points higher (2.05 per cent) at 2805.90 points.

"There was large-scale buying as many scrips became attractive after yesterday's fall," said an analyst with a local mutual fund house.

Foreign funds continued to be betting on the India story as the latest figures reveal that they have pumped in $1.98 billion in this month alone, the biggest in a single month this calendar. Total FII purchases for the calendar year crossed $10.63 billion. On Monday, when the BSE-30 index fell by 171 points, the FIIs made net purchase of $12.20 million.

MFs, remained net sellers to the tune of Rs 1956.43 crore in December. Private sector heavyweight Reliance Industries shot up by Rs 34.45 (four per cent) to close at Rs 866.75.

More Stories on : Foreign Institutional Investors | Stock Markets

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Private airlines told to train pilots to fly in foggy conditions — Fallout of delays, confusion at Delhi airport

Finance Ministry does not favour extending Clause 49 deadline — Wants to stick by SEBI's stance

2005 is second warmest year on record, says WMO

Insurers are once bitten, twice shy

Infrastructure growth down to 3 pc in Nov — Crude oil, steel, coal, electricity fare badly

UTI MF to launch three offshore funds next year

Reliance demerger catches fund managers, traders on wrong foot

As Nigerian acquisition plans fizzle out — ONGC not to offload equity stake in IOC, GAIL now

Changing lifestyles push liquor sales

Net subscriber base tops 6-m mark

Sensex rebounds on `value-picks'

YES Bank IPO: NSDL cries foul over blame pinned on it — Says regulation is SEBI's job