After a weak start, the Bombay Stock Exchange benchmark Sensex rebounded to trade 419 points stronger at mid-session on Tuesday, buoyed by positive economicgrowth estimates by the Government.
The 30-share index, which lost 139 points at the outset, recovered sharply by 418.67 points at 15,084.59, as funds turned aggressive buyers after Prime Minister Manmohan Singh said the country’s economy is even now capable of growing by 8-9 per cent, the same rate as it did before the global financial meltdown set in.
The statement worked as a shot in arm and the market recovered even the levels before yesterday’s fall, as heavy weights RIL and Infosys recorded significant gains.
In similar fashion, the wide-based National Stock Exchange index Nifty surged 109.35 points at 4,539.25.
Both the bourses, BSE and NSE regained their psychological high levels of 15,000 and 4,500 points after a gap of two days when market suffered losses because of profit booking at higher levels.
The Sensex has gained nearly 90 per cent after the Congress-led government came into power, traders said.
