Sensex recovers after hitting day’s low of 27,209;


Mumbai: Indian markets made a sharp bounce back from their day’s lows with the BSE Sensex recovering by about 440 points and the NSE Nifty recovering by about 125 points at the closing session. But it is not just the Greek tragedy that seems to have spooked the global markets. Apart from a string of terrorist attacks that unnerved the markets, fears of slowdown in the Chinese economy also seem to have weighed with the global investors. At the sametime rupee closes 21 paise weaker against US dollar at 63.85.

The Sensex, which sank to a low of 27,209.19, has pulled back to 27,645.15, still down by 166.69 points or 0.6 per cent, but has recovered by 435.96 points from the day’s low.Similarly, the Nifty, which sank to a low of 8,195 points, has pulled back to 8,318.40 points, still down by 62.7 points or 0.75 per cent, but has recovered by 123.40 points from the day’s low.

It is not clear whether the recovery was just a pullback rally or whether the investors are confident of the Indian markets not being too adversely affected by the Greek developments. So analyst are observing the situation now.