May 15, 2012, 05.14 PM | Source: Reuters

Sensex snaps 5-day losing streak; L&T gains

SENSEX-SNAPS-5-DAY-LOSING-STREAK-LT-GAINS:Sensex snaps 5-day losing streak; L&T gains

Sensex snaps 5-day losing streak; L&T gains
MUMBAI (Reuters) - The BSE Sensex snapped five days of falls to gain on Tuesday as Larsen & Toubro surged after its results, while an improvement in global risk sentiment and the RBI's intervention in currency markets helped provide some stability.

Larsen & Toubro rose 5.4 percent. Recently battered blue chips also recovered, with Infosys ending up 3.3 percent, while ICICI Bank added 2 percent.

The Sensex rose 0.69 percent to 16,328.25 points, while the 50-share Nifty added 0.71 percent to 4,942.80 points.

(Reporting by Manoj Dharra; Editing by Rafael Nam)

The BSE Sensex and NSE Nifty gained strength again, rising over 0.8% due to consistent buying interest in L&T and Infosys. ICICI Bank and SBI too played supportive role. Even the Indian rupee appreciated by 25 paise to 53.71 a dollar as against previous close of 53.97 a dollar.

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The BSE Sensex and NSE Nifty erased some gains as European markets shed all initial gains. Index heavyweight Reliance Industries turned negative, falling 0.2% while the buying in banks and metals stocks continued to support.

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BSE-SENSEX-LT-INFOSYS-UP:BSE Sensex gains; L&T, Infosys up

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The BSE Sensex stayed higher with more than 100 points gains in afternoon trade due to consistent buying in L&T and Infosys. ICICI Bank, State Bank of India and Reliance Industries too were helping the market. European markets opened 0.5% higher on the back of short covering.

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The BSE Sensex and NSE Nifty went up over 0.5% amid volatility, led by buying interest in banks, capital goods, healthcare and metals stocks. Index heavyweight Reliance Industries too helped the recovery, rising 0.4%. However, auto stocks were under pressure.

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The BSE benchmark Sensex recovered nearly 65 points in a mixed late morning trade after hitting 17-week lows in view of buying in capital goods, IT and banking counters despite selling in auto and realty counters.

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SENSEX-NIFTY-LARSEN-TOUBRO-LT:Sensex, Nifty flat; global risk aversion weighs

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