Sensex headed for 2000 recovers in counter trend rally - up 287 points
Media Release
Jun. 14, 2006

The stock markets showed signs of a relief rally with a strong surge of 307 points to 9,369.54 during morning trade on Wednesday, sparked off by a sharp upsurge in Asian markets in the opening session.

The Bombay Stock Exchange (BSE) 30-share sensitive index (Sensex) opened firm at 9,156.97 and later zoomed to 9,369.54 at 10.20 am, a partial recovery of 306.89 points over the previous close of 9,062.65.

The Sensex had fallen by 748 points in the last two trading sessions.

The positive turnaround in market sentiment was also credited to a slowdown in sales by mutual funds, which have made heavy withdrawals of Rs 1,421 crore to meet the redemption pressure from corporates. In Asian markets, the Nikkei was quoted up by 224 points, the Hang Seng by 162 points, the Taiwan by 128 points, the Singapore ST Index by 14 points and the Kospi by 25 points. The markets have reacted positively to a firm trend in Asian markets but may not sustain at higher levels as investors will take the opportunity to book profits during the day, market players said. Meanwhile, Foreign Institutional Investors (FIIs) too have reported net sales in the Cash as per the provisional numbers on the NSE web while pumping in Rs 707 crore.

Sensex headed for 2000 recovers in counter trend rally - up 287 points
Media Release
The stock markets showed signs of a relief rally with a strong surge of 307 points to 9,369.54 during morning trade on Wednesday, sparked off by a sharp upsurge in Asian markets in the opening session.
READ MORE>>

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Liquor company Radico Khaitan Ltd is set to establish a 50:50 joint venture with Diageo PLC
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Media Release
According to previously released figures, industrial output for the year to March came in at 8.0 pct year-on-year, down from 8.4 pct a year earlier, while in March alone output was up 7.7 pct.
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Media Release
The objective of the joint venture is to offer a wide range of services for Indian airport retail both on the duty free side and the domestic side as per applicable regulations, the company informed the Bombay Stock Exchange.
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