Nifty bounces to close above 4850

The Nifty recovered from 5-month low levels and closed in the positive terrain, led by gains in capital goods, realty, banking and oil & gas stocks. Traders felt some sense of respite after Reserve Bank of India Deputy Governor Subir Gokarn said the central bank has some room to reduce policy rates following moderate core inflation and soft global oil prices. The Nifty ended at 4,856.45, up 14.85 points, or 0.31 percent. The 50-share index touched an intraday high of 4,858.30 and a low of 4,770.35. The Sensex closed at 16,007.08, up 41.92 points, or 0.26 percent. The 30-share index touched an intraday high of 16,007.34 and a low of 15,748.98. The BSE Midcap Index was down 0.14 percent and the BSE Smallcap Index slipped 0.15 percent. Among sectoral indices, the BSE Capital Goods Index rallied 2.25 percent, the BSE Realty Index was up 1.54 percent, the BSE Bankex gained 1.40 percent and the BSE Oil & Gas Index moved 1.30 percent higher. from the economics times.