Date:16/02/2007 URL: http://www.thehindubusinessline.com/2007/02/16/stories/2007021606780100.htm

Back Sensex zooms 345 points

Our Bureau

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Mumbai Feb. 15 The BSE-30 Sensex bounced back 345 points on Thursday after market participants felt the stocks had factored in the negative cues. Fresh buying and covering of short positions pushed markets up through the day.

The Sensex gained 345.65 points to close at 14,355.55, up 2.47 per cent. NSE S&P CNX Nifty index ended at 4,146.20, up 2.45 per cent. Markets are also taking in the pluses like the cut in petrol prices. "The negative factors are now over and markets will move up on budget expectations," said Mr K.D. Mehru, Vice President-Equity, Khandwala Securities.

Mid and small cap stocks, which took a severe beating in the current fall, recovered considerably on Thursday. The BSE Mid-cap index gained 2.64 per cent and the small-cap index surged 3.15 per cent respectively.

Market breadth was positive with 2,116 stocks gaining and 497 stocks declining on the BSE. The turnover on the BSE was Rs 5,049.70 crore.

Bonds gain

After losing more than Rs 2 in the past few days, bond prices gained by around 45 paise on Thursday, on a cut in domestic fuel prices and value buying (traders closed short positions and took fresh positions). Prices gained despite inflation shooting up to 6.73 per cent (6.58 per cent), for the week ended February 3.