SEBI asks FIIs to reverse shorts; Nifty regains 3000

[Sukumar.N]

MUMBAI: The market recovered lost ground helped by the Sebi directive
to FIIs to reverse short positions. A positive opening on the European
bourses also aided the positive sentiment. Gains in technology and
consumer durables led the upmove.

At 2:20 pm, Bombay Stock Exchange's Sensex was at 10,117.18, still
down 0.52 per cent or 52.72 points, recovering from a low of
9,681.28.

National Stock Exchange's Nifty was at 3022.90, down 1.38 per cent or
104.8 points. The index touched a low of 2918.10 and high of 3085.10.

BSE Midcap and Smallcap indices were down 1.79 per cent and 2.19 per
cent respectively.

Biggest Sensex gainers were TCS (4.96%), Wipro (4.92%), BHEL (4.7%),
Infosys Technologies (2.97%) and HDFC Bank (2.8%).

Tata Motors (-10.76%), Tata Steel (-10.68%), Hindalco Industries
(-9.56%), Sterlite Industries (-8.71%) and Ranbaxy Laboratories
(-5.69%) were under pressure.

Market breadth on BSE showed 1745 declines against 642 advances.


N.Sukumar
Research Analyst
www.kences1.blogspot.com