Sensex snaps 2-day fall
On February - 6 - 2010
The BSE Sensex snapped a two-day falling streak to close 0.8 percent higher on Saturday buoyed by overnight gains on Wall Street, but investors remained cautious about European debt and the global recovery.
“The market for the shorter term is oversold and Wall Street’s recovery added to the rally,” said Neeraj Dewan, a director with Quantum Securities in New Delhi.
“There is some bounce back because of this short covering,” he said, but added the rise could be short-lived.
“The market can see selling coming back at slightly higher levels on Monday or Tuesday due to Europe’s debt problems and reversal of dollar carry trade,” Dewan said.
