Sensex Rebounds, ends 149 pts up; Auto stocks shine

Monday, 13 August , 2007, 16:24
The Sensex opened on a high note as strong global markets ignited a rally in blue chip stocks this morning. And then, there were some uncertain moments for the Sensex as participants turned a bit wary of holding on to their positions at higher but levels and the barometer very nearly slipped into the red as well in late morning trade.

However, thanks to sustained buying in auto, cement, FMCG, bank, oil and metal stocks right through the afternoon, the barometer ended the session on a buoyant note today. The sentiment was lifted by smart recovery in global markets following the US Federal Reserve pumping in $38 billion into the banking system to bale the market out of a credit crunch.

While the Sensex, which touched a high of 15,044.74 in intra-day trades, ended with a gain of 1% or 148.96 points at 15,017.21, well off its morning low of 14,869.15, the Nifty settled at 4373.65 with a gain of 0.93% or 40.30 points. In intra-day trades today, the Nifty hit a high of 4383.80 and a low of 4324.65.