13 Jul '11, 12pm

BSE Sensex gains 1 pct after 3-day fall; banks, sugar cos rise

MUMBAI (Reuters) - The BSE Sensex snapped a three-session losing streak and rebounded 1 percent on Wednesday as investors returned to risky assets after China's economic growth data allayed some concerns over a global slowdown even as euro zone debt worries lingered. Financials contributed the most to the gains on the BSE main index. The banking sector index advanced 1.1 percent, but is still down 5.5 percent in 2011, hurt by rising interest rates. The 30-share BSE index climbed 184.40 points to 18,596.02 points, with 26 components closing in the green. It had declined 3.5 percent over the past three sessions. The 50-share NSE index gained 1.1 percent to 5,585,45. "For the moment, money is flowing into emerging markets like ours, when other options seem to have dried up for FIIs (foreign institutional investors)," said Gajendra Nagpal, CEO of Unicon Financial. Foreign fund...

Full article: http://sg.news.yahoo.com/bse-sensex-gains-1-pct-3-day-fal...

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