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Market recovers as capital goods, IT and PSU stocks surge

The benchmark BSE Sensex on Thursday bounced back by 95 points on revival of buying by funds along with short-covering by speculators in heavy-weight stocks.

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Updated at 4.35 pm
 
MUMBAI: The benchmark BSE Sensex on Thursday bounced back by 95 points on revival of buying by funds along with short-covering by speculators in heavy-weight stocks.
    
The Sensex, which had lost more than 400 points in last two trading sessions, ended in the green with a recovery of 95.32 points, or 0.74 per cent, at 12,979.66. In intra-day trading, it regained the 13,000-mark to hit 13,004.40.
 
Similarly, the wide-based National Stock Exchange index Nifty spurted by 37.00 points, or 0.98 per cent, to 3,798.10 after moving between 3,805.85 and 3,750.35 points.
 
Market observers said apart from revival of buying by funds, heavy-short covering in derivative (futures and option) segment due to expiry of March contract also helped stocks to stage comeback.
 
With renewed interest in engineering stocks, BSE capital goods index gained 108.51 points, or 1.22 per cent at 9,000.14, while the IT index rose by 43.23 points at 4,875.08.
 
Capital goods segment major stocks such as Larsen & Toubro, BHEL, Reliance Infrastructure, Thermax, Lakshmi Machines, Bharat Bijlee and Crompton Greaves recorded notable to moderate gains, lifting the Sensex.
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