Recovering very partially from yesterday’s huge sell-off, the Sensex at the Bombay Stock Exchange gained 291 points, to close at 26,032, after very volatile trade. The Nifty at the National Stock Exchange gained 72 points, to 7,881.
Earlier, Sensex had gained 269 points, to 26,010 in afternoon trade, amid intense volatility. The Sensex had opened on a strong note, surging 383 points within minutes of the start of trade, until volatility took over, and saw the Sensex drop into the red, and swing over 800 points between its high and lows. Similarly, the Nifty at the National Stock Exchange had climbed 81 points, to 7,890.
The Chinese market continued to bleed, as it plummeted 7.6 percent. But in other key Asian bourses, while Japan had plunged 4 percent, markets in South Korea and Singapore showed signs of respite, and had gained about one percent, each.
Back home, at the forex market, the rupee had strengthened 26 paise, to 66.39 against the dollar in early trade. Snapping 14 straight days of gains, gold declined 215 rupees, to 27,360 rupees per ten grams at Delhi’s bullion market, on poor demand from jewelers, and weak global cues. Gold had gained 2,595 rupees in the previous 14 days, in its longest winning streak this year.
Silver dropped 800 rupees, to 35,500 rupees per kilo. Silver coins plunged 1,000 rupees, to 51,000 rupees for buying 100 pieces. Overseas, gold fell 0.6 per cent, to 1,148 dollars an ounce. Silver lost 0.2 per cent, to 14.75 dollars an ounce.