Sensex gains 48 points on strong industrial growth

The stock market continued with its volatile swings and fell below the 14,000-mark in intra-day trade for the first time since May 16, but settled higher after late-buying in manufacturing sector stocks.

The Bombay Stock Exchange's 30-share benchmark index closed at 14,130.95 points, up 47.54 points or 0.34 per cent from yesterday's close of 14,083.41. Similarly, National Stock Exchange's Nifty firmed up by 9.60 points or 0.23 per cent to close at 4,155.20 from previous close of 4,145.00.

The Sensex dropped to as low as 13,946.99 points in afternoon trade, but recovered by over 200 points to hit its intra-day high of 14,153.44 toward the end of the session.

The recovery was mainly led by stocks from manufacturing sector such as cement, steel and heavy engineering after the government data showed the country's industrial production grew by a more than expected rate of 13.6 per cent in April.