STOCKS CLIMB AGAIN IN LATE BUYING RUSH; Traders Regain Confidence as Reserve Bank Fails to Act on Rediscount Rate. SALES LIGHTEST IN WEEKS But List Regains Nearly Half of Recent Loss in Upswing After Early Uncertainty.
Suddenly reversing its trend with the appearance of fresh buying support, the stock market recovered yesterday nearly half the ground lost in the declines of Thursday and Friday. The rally, although slow in getting under way, gathered momentum rapidly around midday and carried through until the close, with active stocks showing net gains on the day of from 3 to 12 points.