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Sensex pares early losses to climb 1.97 pct

April 8, 2009

The Sensex closed nearly 2 percent higher after being down more than 3 percent in early trade.

The benchmark closed 207 points higher at 10,742.34, as short coverings and positive sentiments erased morning losses.

The Sensex took a hit early due to weak global cues as well data released by FICCI that showed exports could take a hit as demand contracts in key markets.
Reliance Industries, ITC, L&T and NTPC led the benchmark. Jaiprakash Associates was the top index gainer, closing 8.7 percent higher.

Among sectors, the BSE Realty Index led with gains of 4.7 percent, followed by the Capital Goods Index which was up 4.6 percent. All indices, barring the banking index, closed in positive territory.

The key benchmark indices have gained momentum in the past few sessions indicating positive sentiments.

With fourth quarter results around the corner and speculation that it will be weaker than the previous one, do you think the Sensex will be able to hold the current upswing?


Sensex continues with its dream run.At 10,742 points(+207 points)(1.97%),sensex is defying the law of averages.

A notable feature of this rally is that FIIs have returned to Indian market.Since 12 March,FIIs have been net buyers on 13 of last 18 sessions.During this period,they were nett at Rs 2,082cr. and have notched up Rs 1,636cr. in 4 sessions in April so far.

Is this a pre-election rally?

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