Stock markets were rocked by volatility with stock prices and indices going up and down in another roller-coaster another ride on Wednesday. Stocks recouped more than its Tuesday’s loss — especially in the last 30 minutes — as buying interest resumed after an extremely volatile session on Wednesday.After moving in an intra-day range of 130 points, the 30-share BSE Sensitive Index (Sensex) ended with a gain of 73.23 points at 4,855.26, its new 39-month closing high. The Sensex touched a low of 4,738.12 and a high of 4,867.91 in intra-day trades. On Tuesday, Sensex showed a 135-point swing and closed with a loss of 67 points. Rupee ends higher MUMBAI: The rupee ended mildly higher against the US currency on Wednesday after overcoming severe early pressures, as strong dollar supplies hit the market in the late afternoon trade, but heavy short-covering by corporates and importers limited its gains to the minimum. In choppy two-way trade at the interbank forex market, the rupee closed at Rs 45.68/69 per dollar, slightly higher from Tuesday’s finish of Rs 45.69 (PTI) The NSE S&P CNX Nifty Index ended with a gain of 16.20 points at 1,537, recovering from an intra-day low of 1,503. ‘‘Old economy stocks led the recovery of the market on hopes of improved corporate results for the quarter ended September 2003,’’ said a dealer.According to dealers, the market displayed extreme volatility with stock indices see-sawing on both sides of break-even throughout the session. Stocks oscillated between positive and negative territories amid alternate bouts of buying and selling. While the early weakness in the market was attributed to fears of trouble brewing in Ayodhya, the market recovered smartly in the final hour. Sensex gained nearly 30 points in the last half-hour’s trade.While expectations of corporate results continued to drive the market, FIIs have remained aggressive buyers on Indian bourses of late. They pumped in a net Rs 440.60 crore on October 13, taking their net inflows to Rs 3,000.60 crore in the first nine trading sessions of October. FIIs have invested over $3.6 billion in Indian markets this year.Tata Steel rose from an intra-day low of Rs 324 to Rs 344.85 before settling at Rs 343.50, up 5.32% over its previous close. Automobile pivotals Bajaj Auto (up 4.96% to Rs 890.20) and Tata Motors (up 3.58% to Rs 380.30) shot up after an early weakness on expectations of improved quarterly results. Hero Honda Motors slipped from a high of Rs 340.50 to a low of Rs 326.20 before settling at Rs 337.75, up 0.70% over its previous close.
