Market recovers, Sensex up 496 points

The Bombay Stock Exchange benchmark Sensex rebounded to post a gain of over 495 points on Wednesday, July 30, 2008.

The banking, capital goods and realty stocks, made handsome recovery on positive trends in global markets and metal and IT and tech stocks gained marginally. Investors purchased fundamentally strong stocks available at lower levels.

There was a steep rise in global stock markets, following a fall in crude oil prices, also boosted the sentiments here.

Realty segment index shot up 244.17 points at 5,041.88 as all the 14 participant company stocks recorded handsome gains.

Indiabulls realty rose 13.5 per cent,

DLF Ltd by 4 per cent,

Anant Raj by 6.98 per cent,

Ansal Infrastructure by 5.72 per cent

and Unitech by 3.41 per cent on fresh buying.

PSU index rose by 162.12 points at 6,676.91,

IT index by 133.52 points at 3,722.09,

auto index by 99.65 points at 3,672.86,

teck index by 96.17 points at 3,030.52,

power index by 80.41 points at 2,554.22,

consumer durable index by 37.57 points at 3659.20 and

healthcare index by 74.77 points at 4207.91.

However, FMCG was marginally down by 3.06 per cent at 2,133.22 as stocks of ITC Ltd fell by 1.11 per cent on emergence of profit booking by funds.

As the buying activity spilled over a wide-front, small-cap index shot up by 96.59 points at 6,927.60 and mid-cap index by 92.43 points at 5,581.01.