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Sensex gains on signs of easing recession

June 5, 2009

The BSE Sensex rose on Friday on positive global cues amid profit taking by cautious investors, posting its 13th consecutive weekly gain in four years. INDIA

The 30-share sensitive index swung from an intra-day high of 15,257 to an intra-day low of 14,994, and finally closed 94 points higher at 15,103. The fifty-share Nifty ended 0.3 percent higher at 4586.

The rise in the benchmark index was led by L&T, Infosys, BHEL and ICICI Bank.

On the sectoral front, the BSE Capital Goods Index gained 2.9 percent, followed by the IT Index which ended 2.6 percent higher. The BSE FMCG Index, however, ended lower at 2.3 percent.

A global rally in stocks has propelled the benchmark up 88 percent from a 2009 low in early March, with foreign funds pouring in more than $6 billion into the market.

Do you think with positive sentiments visible globally and domestic investors hoping for favourable reforms, the Sensex will be able to continue its upswing next week too?

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