In tune with the Asian markets, the Bombay Stock Exchange sensitive index, Sensex, closed lower by 136 points on Friday at 16191.63 against 16327.84 on Thursday, after plunging in early trade in a knee-jerk reaction to the U.S. Federal Reserve's move to raise raise rates for emergency loans to banks. However, after plunging over 250 points intra-day, the markets recovered towards the end, after the Prime Minister's economic advisory panel's report said that the economy would grow well beyond the CSO estimate of 7.2 per cent this fiscal. This saw some fag-end bargain buying as all the sectoral indices, barring the healthcare, came under heavy sell-off.
Total volume was relatively low at Rs. 3,912.88 crore against Rs. 3,998.02 crore on Thursday. HDFC Bank was the volume topper with a turnover of Rs. 149.83 crore.
RUPEE EDGES DOWN
The rupee on Friday edged down to 46.30/31from its previous close of 46.28/29 against the dollar after losing a hefty 19 paise in early trade following a sharp rise in dollar value against major currencies in overseas markets. At the interbank foreign exchange market, the rupee lost 19 paise intra-day at 46.47/48. However, it recovered some of the losses on emergence of dollar buying by banks as well as exporters and importers for their monthly settlement. The rupee closed at 46.30/31.
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