Sensex Climbs 46 Pts In Short Session

Mumbai, Nov 15: | Updated: Nov 16 2003, 05:30am hrs
Buying in select old economy and blue-chip counters triggered a recovery in the market during the truncated trading session on Saturday, with the Sensex gaining 45.93 points to close at 4911.76 points. The recovery comes after a two-day decline, which had chopped 140 points off the Sensex. Good volumes were witnessed, despite the session being of barely two hours. The special session was necessitated by the NSEs testing and upgradation of its back-up site in Chennai.

The rally gained speed towards close, after the initial gyrations between positive and negative territories. The S&P CNX Nifty gained 12.35 points to 1,562.80, even as FE-constituted FEfty rose 14.51 points, closing at 1766.62 points.

A dealer with a domestic brokerage said: The recovery in the market comes after the Sensex plunged 140 points over the last two trading sessions on unwinding by traders in derivatives segment, when NSE slapped broker-wise ad hoc margins on those who held huge positions.

A host of side counters across sectors like textiles, shipping, auto ancilliaries, cement, hotels, fertilisers and sugar moved higher. Index heavyweight Reliance Industries recovered on Saturday after a two-day drop, gaining 1.2 per cent to Rs 469.90.