Mkts end in positive zone; Sensex closes 20 pts up

By PTI Feb 08 2010 , Mumbai

In a highly choppy trade, the BSE benchmark index Sensex failed to regain the

psychological 16,000-mark today, despite ending in the positive terrain for the second day with a gain of 20 points, as funds continued to their selling spree in heavy-weight counters.

Tracking Asia, the Sensex opened 95 points down and shuttled between 16,061.41 and 15,651.99 before shutting the shop for the day up a paltry 19.96 points at 15,935.61, as Reliance and Infosys bucked the general downtrend. These two stocks alone carry nearly 23 per cent weight in the index.

While the market remained low at the outset, a last-hour buying on better GDP projection and higher opening in European markets saved the market from any major fall.

The wide-based National Stock Exchange index Nifty ended almost flat gaining a paltry 3.15 points to 4,760.40, after swaying between 4,799.05 and 4,675.40 points. The index opened 26 points down following poor Asian cues.

The gains were led by capital goods, tech, bank and realty indices which rose between 0.56 to 0.31 per cent; while metals, auto and healthcare counters lost between 1.38 to 0.11 per cent.

The metal index suffered the most by shedding 1.38 per cent to 15,392.80, after Tata Steel slipping by Rs 24.90 to Rs 533.80 and the biggest aluminum producer Hindalco sinking by Rs 5.30 to Rs 136.10.

Markets @ 02.15 PM (PTI)

The Bombay Stock Exchange benchmark Sensex recovered from its early losses at midsession today to add 116.37 points on fresh buying by investors after the government estimated the economy to grow at 7.2 per cent this fiscal.

The 30-share index, which had dipped to 15,651.99 points at the early stage, bounced back to gain 116.37 points to 16,032.02 at 1415 hrs.

The wide-based National Stock Exchange index Nifty also rose by 38.70 points to 4,795.95 on the back of a firming trend in teck, information technology and realty sector sectors.

Brokers said that the market rebounded after the advance estimates released by the Central Statistical Organisation projected the economy to grow at 7.2 per cent for this fiscal against 6.7 per cent a year ago.

Also the availability of heavy-weight shares at the existing lower level made them attractive for investors, they added.

Brokers also said that the trading sentiment was further bolstered by better opening in European stock markets.

Markets @ 10.50 AM

The BSE Sensex extended losses to 1 percent on Monday morning, led by losses in Reliance Industries and ITC, as Asian markets weakened further and as investors were worried about concerns in the euro zone.

At 10:55 a.m. (0525 GMT), the 30-share BSE index was down 1.04 percent at 15,749.77.28 points, with 26 components declining.

The 50-share NSE index was down 1.2 percent at 4,702.40.

Markets @ 09.00 AM

The Bombay Stock Exchange benchmark Sensex fell by over 95 points in early morning trade today on selling by funds in oil and gas, banking and IT sector stocks amid weak Asian cues.

The 30-share index, which had gained over 124 points in the previous trading session, declined by 95.25 points, or 0.59 per cent, to 15,915.65 points in early morning trade.

The wide-based National Stock Exchange index Nifty declined 25.60 points, or 0.55 per cent, to 4,757.25.

Brokers said weak trends on the other Asian bourses mainly dampened the trading sentiment here, triggering selling by foreign funds in heavy-weight stocks.

Among the losers were Reliance Industries fell by 0.18 per cent to Rs 991.90, Infosys by 0.51 per cent to Rs 2,368.10, Tata Consultancy Services by 0.02 per cent to Rs 729.35, Wipro by 0.29 per cent to Rs 646, NTPC by 0.51 per cent to Rs 204, HDFC Bank by 1.14 per cent to Rs 1,555.65, HDFC Ltd by 0.92 per cent to Rs 2,374 and BHEL by 0.86 per cent to Rs 2,293.40.

The Hong Kong's Hang Seng index was down 0.26 per cent, while Japan's Nikkei fell by 0.23 per cent in the morning trade today.

Post new comment