Short-covering, marginal FII buying push Sensex up 36 points
Mumbai: Uneasiness over the impending new trading rules from Sebi continued to keep the market on a subdued note, which witnessed a short rally with fresh purchases by foreign institutional investors. The market is awaiting its decision, expected to be announced on May 14.

The Sensex crawled upwards gaining 36 points on Tuesday, with operators covering their short positions to square up on settlement day on the National Stock Exchange (NSE). NSE’s S&P CNX Nifty rose by 10 points.

Satyam Computers and NIIT were the leaders, with Satyam rising around 8 per cent on both the bourses, despite the Nasdaq composite index being lower by 18 points.

The market is also awaiting the results of the Assembly elections, where, if the BJP comes through, they expect the index to cross 3650 points, which could trigger a major rally.
Back to News Review index page