Sensex snaps two-day losses, up by 256 pts on SEBI measures

Mumbai, June 19 (PTI) The Indian BSE-benchmark Sensex
snapped its two-day losing streak and bounced back to end at
14,521.89 on fresh support from investors on the back of
several measures announced by SEBI Thursday and positive
global cues.

The Bombay Stock Exchange 30-share barometer rose by
256.36 points or 1.80 per cent to settle the day at 14,521.89
from its previous close. It moved in a wide range of 14,559.08
and 14,179.77 during the day. The Sensex had dropped by 692.38
points or 4.63 per cent in last two days.

The Securities and Exchange Board of India yesterday
approved the "anchor investor" concept under which an investor
can subscribe up to 30 per cent of the quota for institutional
investors in an initial public offering.

Asian stocks snapped a four-day slide today after upbeat
US factory and jobs data provided more evidence that the
global economy is recovering. The key benchmark indices in
China, Hong Kong, Japan, South Korea, Singapore and Taiwan
ended higher between 0.55 per cent and 1.61 per cent.

European markets also opened higher in early trade.
France, Germany and London rose by 0.26 pct to 1.65 per cent.

SMC Global Vice-President Rajesh Jain said, "In the short
term there would be selling pressure in the market as the
expiry of derivatives contract for the current month will be
next week. Positive moves are expected after the expiry of
derivative contracts on Thursday."

The broader 50-share Nifty of the National Stock Exchange
shot up by 62.20 points or 1.46 per cent to close at 4,313.60
from its last close.

Among sectoral indices, capital goods shot up by 537.30
points or 4.58 per cent, followed by realty (99.77 points or
3.13 per cent), metals (301.61 points or 2.81 per cent), IT
(74.37 points or 2.32 per cent) and Bankex (145.27 points or
1.82 per cent).

Tata Steel's share rose by 5.85 per cent today as the
firm raised prices by up to Rs 750 a tonne on account of
improved domestic demand for the commodity.

Other gainers were Larsen (5.71 per cent), Tata Motors
(5.08 per cent), REL Infra (5.08 per cent), Jai Prakash
Associates (4.68 per cent), and Ranbaxy (3.68 per cent).

NTPC fell 2.20 per cent, Tata Power 1.06 per cent and ACC
1.02 per cent.

The market breadth was positive with 1,345 stocks showing
gains while 1,293 others finished with losses. PTI RSU
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