Sensex rebounds 146 pts

Jan 18 2013, 02:31 IST
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SummaryThe Sensex on Thursday recovered by 146 points on fund-based buying mainly in oil stocks like RIL and ONGC after the government virtually deregulated diesel prices to cut subsidy bill.

The Sensex on Thursday recovered by 146 points on fund-based buying mainly in oil stocks like RIL and ONGC after the government virtually deregulated diesel prices to cut subsidy bill. The 30-share index, which had lost 169 points in the previous session, bounced back by 146.40 points to settle at 19,964.03 points. The Nifty rose by 37.35 points, or 0.62%, to 6,039.20 points.

ONGC rose the most among Sensex stocks by 3.66%. Reliance Industries shot up by 3.40%.

Better quarter earnings by leading IT companies further supported the market sentiment. HCL Technologies on Thursday posted better-than-expected profit in October-December. HCL Tech rose by 4.31%. Infosys jumped by 0.91% as foreign investors remained net buyers of Indian stocks for the 13th straight day.

The sentiment was also boosted following consistent buying by Foreign Institutional Investors, who bought shares worth net R1,029.50 crore on Wednesday.

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