Scrips recover marginally

MUMBAI, Dec 15: Select pivotals staged a small recovery on the BSE today on emergence of speculative support and fresh buying by domestic f...

MUMBAI, Dec 15: Select pivotals staged a small recovery on the BSE today on emergence of speculative support and fresh buying by domestic financial institutions. The sensex gained 38 points. The new account started subdued and share prices dropped during the earlier part of the session but a few scrips rallied as the session progressed to finish around the day’s best level.The closing rates showed widespread small to modest gains. The volume of business dropped. The closing undertone appeared steady.

The BSE sensitive index, recovered smartly from the intra-day low of 3291.09 to finish at 3367.56 with a modest gain of 38.29 points compared to the previous level of 3329.27.

The BSE-100 index improved by 15.04 points to 1465.91 from the previous close of 1450.87. Brokers said that the sentiment turned for better mainly on fresh buying by the financial institutions led by UTI in select heavy weighted scrips like Tata Steel and SBI.

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The volume of business was sharply down at Rs 597.98 crore from the turnover of Rs 875.92 crore. On the NSE share prices recovered smartly on brisk speculative buying. The NSE-50 index, after a weak start at 965.00, fluctuated widely between 980.65 and 957.20 and closed at 979.85, showing a gain of 14.70 over the last level of 965.15.

The dollar NSE-50 (defty) index opened better at 846.75 and after touching a high of 858.65, finished at 857.85, revealing a rise of 11.25 from the last close of 846.60. The Midcap index also resumed higher at 1091.10 and after moving between 1104.50 and 1089.20, closed at 1103.60, displaying a gain of 13.30 over the last close. The market displayed a total turnover of Rs 1,236.39 crore.