Indian shares continue to recover


Mumbai : Indian shares continued to recover after a key index slumped to a four-week low to close at 0.34 percent up Tuesday with a late thrust from a few market heavyweights.

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The benchmark sensitive index of the Bombay Stock Exchange (BSE) rose 0.34 percent or 47.54 points to close at 14,130.95 levels after it had fallen below the 14,000 levels in intra-day trade for the first time since May 16.

However, cement majors helped in pulling back the selling pressure in late trade, with 13 of the index components trading in the green.

Similarly, the broader 50-issue National Stock Exchange (NSE) index Nifty was up 0.23 percent or 9.6 points to close at 4,155.20.

Leading the top index gainers were cement major ACC Ltd, up 5.56 percent at Rs.806.95, followed by the country's largest steel producer Tata Steel, up 4.03 percent at Rs.603.10 and textile major Grasim Industries, up 2.06 percent at Rs.2,395.00, top private sector lender ICICI Bank, up 1.90 percent at Rs.919.05, top private firm Reliance Industries, up 1.8 percent at Rs.1,699.55.

Other major stocks that traded in the green were top housing finance company HDFC, top two-wheeler maker Hero Honda Motors, largest engineering and construction firm Larsen & Toubro, cement major Gujarat Ambuja Cements and top consumer goods maker Hindustan Lever.

India's fourth largest software exporter Satyam Computers led the major Sensex losers of the day, down 3.78 percent at Rs.478.45, followed by top drug producer Dr. Reddy's Laboratories, down 2.25 percent at Rs.611.20 and top carmaker Maruti Udyog, down 1.98 percent at Rs.719.40.

Other major index stocks that traded in the red were top multi-utility vehicle maker Tata Motors, private sector telecom service provider Reliance Communications, drug major Cipla Ltd, state-owned thermal power producer NTPC, the country's second largest private sector lender HDFC Bank, top aluminium producer Hindalco Industries and top two-wheeler and three-wheeler maker Bajaj Auto.