Markets regain 17,000-level; metal, realty back in favour

Mumbai, Dec 8 (PTI) The Bombay Stock Exchange benchmark
Sensex Tuesday rose by over 244 points to regain the 17,000-
level, with realty and metal sectors and heavyweight Reliance
Industries bouncing back even as the Asian stocks were
distinctly weak.

The 30-share Sensex closed with a gain of 244.54 points
at 17,227.68 after briefly falling 0.1 per cent during
intra-day. Tuesday's gains more than make up for the 202
points the markets had lost in the past two days.
The National Stock Exchange index Nifty also shot up by
81.25 points to close at 5,147.95 points.
Realty shares, which were battered yesterday, bounced
back and their sectoral index closed up 3.27 per cent at
3,982.99. Consumer durable index also gained 2.29 per cent to
3,571.62.
Metal shares, which were also under pressure in the last
trading session, were back in demand. Metal index ended up by
2.15 per cent to 16,664.12.
Strong buying support in Sensex-heaviest and refinery
major Reliance Industries lifted the Sensex. RIL had dipped
over 3 per cent Monday. It gained Rs 24.60 to Rs 1,080.25
on reports the company is in discussions with several banks to
raise money to buy LyondellBasell Industries, which has filed
for bankruptcy.
Infosys Technologies surged by Rs 50.20 to Rs 2,440.10 on
hopes that the US dollar gaining against the rupee would boost
its revenue software exports.
RIL and Infosys carry nearly 23 per cent weight on the
benchmark index. (MORE) PTI RS
MYR


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