Liberal FDI norms help Sensex gain 97 points

Updated: Jul 18 2013, 07:14am hrs
Bolstered by a sharp rise in FMCG giants HUL and ITC, the benchmark S&P BSE Sensex on Wednesday recovered almost half of the previous days losses, gaining 97.5 points to 19,948.73, even as the government liberalised FDI norms in various sectors. Mixed-to-weak global trends ahead of the US Federal Reserve chairman Ben Bernankes semi-annual testimony and earnings from heavyweights such as Bank of America and Intel weighed on the market. The 30-share Sensex opened higher and climbed to 19,983.22 before dropping to a low of 19,778.54 on the back of a reversal in the European market. The index later recovered on buying in blue-chip counters to end at 19,948.73, a rise of 97.5 points, or 0.49%. The 50-share CNX Nifty index of the NSE rose 18.05 points, or 0.30%, to 5,973.30.

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