Sensex breaks 7-day slide, closes 53 points up

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The 30-share benchmark index opened at 12,712.82 and plunged to an intraday low of 12,558.14 during morning trade but rallied soon thereafter to touch a high of 13,346.79 before settling at 13,315.60.

Despite Thursday's rise, the Sensex is down about 36.9 percent this year and continues to be one of the worst performers in Asia.

Fifteen components rose on Thursday, the biggest gainer being Sterlite Industries, which surged 3.46 percent to Rs.454.50.

Financial stocks HDFC Bank, ICICI Bank and State Bank of India (SBI) jumped 3.17 percent, 2.78 percent and 2.14 percent to Rs.1222, Rs.575.85 and Rs.1561.35 respectively.

Auto majors Maruti Suzuki and Mahindra & Mahindra climbed 2.70 percent and 2.46 percent to Rs.718.45 and Rs.550.55 respectively.

Top listed Reliance Industries advanced 3.16 percent to Rs.1932.85 while state-run power producer NTPC ended up 3.05 percent at Rs.174.

Other gainers were Reliance Infrastructure (up 2.43 percent at Rs.849.60), ONGC (up 2.02 percent at Rs.999.15), ACC (up 1.48 percent at Rs.601.35), Larsen & Toubro (up 1.48 percent at Rs.2539.05), Hindustan Unilever (up 0.80 percent at Rs.239.90), ITC (up 0.60 percent at Rs.185.50) and Hindalco Industries (up 0.18 percent at Rs.112.45).

The top loser of the day was Ranbaxy Laboratories, which sank 10.06 percent to Rs.340.95 on news that the United States Food and Drugs Administration (FDA) has banned import of over 30 drugs manufactured by the company because of "deficiencies in manufacturing processes."

Civil engineering major and flagship company of the Jaypee Group, Jaiprakash Associates was close behind plunging 6.73 percent to Rs.127.40.

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