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Amid value buying on New year after four sessions of decline, The BSE Sensex on Monday recovered from early losses to close 63 points up at 15,517.92, although the investors remained cautious despite the Government move to allow QFIs to directly buy Indian Equities.
Most of the Asian markets remained close on account of holidays and did not offer any firm cues to investors. However, steady openings in Europe helped improve the sentiment, although trading remained thin.
The Bombay Stock Exchange 30-share barometer resumed firm but fell sharply. The sentiment improved, however, and helped it end at 15,517.92, up 63 points or 0.41 per cent. In the last four sessions, it had tumbled by 515.83 points or 3.23 per cent. The broader NSE 50-issue index Nifty gained 12.45 points or 0.27 per cent to 4,636.75.
The Government decided on Sunday to allow Qualified Foreign Investors (QFIs) to directly invest in the Indian equity market from January 15, to attract more foreign funds against the backdrop of significant foreign capital outflows.
The bullion market too commenced the new year on a promising note as silver prices rose by 250 to Rs 51,400 per kg on Monday on fresh buying by stockists, while gold held steady at Rs 27,640 on restricted buying activity. However, the rupee too lost 20 paise to close at a fresh two-week low of 53.30/31, ending the first day trading of the new year on a subdued note.
The local currency moved between 53.12 and 53.40 at the Interbank Foreign Exchange (Forex) market before settling the day at 53.30/31, or 0.38 per cent, down 20 paise over the previous close.
Most of the Asian markets remained close on account of holidays and did not offer any firm cues to investors. However, steady openings in Europe helped improve the sentiment, although trading remained thin.
The Bombay Stock Exchange 30-share barometer resumed firm but fell sharply. The sentiment improved, however, and helped it end at 15,517.92, up 63 points or 0.41 per cent. In the last four sessions, it had tumbled by 515.83 points or 3.23 per cent. The broader NSE 50-issue index Nifty gained 12.45 points or 0.27 per cent to 4,636.75.
The Government decided on Sunday to allow Qualified Foreign Investors (QFIs) to directly invest in the Indian equity market from January 15, to attract more foreign funds against the backdrop of significant foreign capital outflows.
The bullion market too commenced the new year on a promising note as silver prices rose by 250 to Rs 51,400 per kg on Monday on fresh buying by stockists, while gold held steady at Rs 27,640 on restricted buying activity. However, the rupee too lost 20 paise to close at a fresh two-week low of 53.30/31, ending the first day trading of the new year on a subdued note.
The local currency moved between 53.12 and 53.40 at the Interbank Foreign Exchange (Forex) market before settling the day at 53.30/31, or 0.38 per cent, down 20 paise over the previous close.
