Mumbai: The BSE Sensex and NSE Nifty showed a nice rebound in late trade on Friday led by outstanding performance by SBI in fourth quarter numbers and sharp recovery in rupee from record low to near previous close. However, the global markets stayed under pressure due to eurozone concerns and weak US data.
Short covering helped markets close 0.4 per cent higher on Friday. The BSE benchmark rose 82.27 points or 0.51 per cent, to close at 16,152.75 after seeing recovery of more than 300 points from intraday low of 15,809.71.
The NSE benchmark fell below the 4800 level to hit a low of 4,788.95 during the day, before closing at 4,891.45, up 21.25 points or 0.44 per cent led by support from banks, oil & gas, FMCG, steel and technology stocks. Index touched an intraday high of 4,908.50 in late trade.
The Indian rupee too bounced back quite smartly to 54.56 a dollar from record low of 54.89 a dollar, but still down 9 paise from previous close of 54.47 a dollar. Currency has fallen due to sliding euro and other Asian currencies due to Eurozone turmoil.
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