Sensex takes 16,000 on rupee, Asian stocks

The BSE Sensex gained over 0.5% Tuesday on the back of modest gains in Asian stocks and the firming trend in the rupee. At 09.20 a.m., it traded 86 points higher at 16,074, while the broader Nifty index advanced 27 points at 4,875.Analysts attributed the gains to short covering because the markets have fallen sharply over the last few days."This is a bounce or a pullback and the best case for the Nifty index is 4,900-4,930. The rally...