Sensex recovers as oil, gas stocks gain

Mumbai, May 14 (IANS) A benchmark index of the Indian equities markets was trading 74.67 points up in pre-afternoon trade Tuesday, a day after plummeting to its lowest levels since May last year.

The benchmark index closed Monday’s trade 2.14 percent or 430.65 points down on profit-booking, weak global cues and widening of trade deficit in March to $17.78 billion from $14.04 billion during the corresponding month of the last year.

On Tuesday, there was healthy buying spree in oil and gas, public sector undertaking (PSU) and metal stocks. However, consumer durables’ scrips declined.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the positive territory at 19,715.80 points around 10.50 a.m., was trading at 19,766.34 points – up 74.67 points or 0.38 percent from its previous day close at 19,691.67 points.

Sensex touched a high of 19,771.30 points and low of 19,652.69 points in the intra-day trade.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) was also trading flat 23.90 points or 0.40 percent up at 6,004.35 points.

The BSE oil and gas index was up 93.42 points, followed by PSU index, higher by 65.45 points, and metal index, up 63.48 points. Stocks of consumer durables companies, however, plummeted.

The consumer durables index was down 42.79 points.

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