Sensex up 51 points on fag-end buying

Tags: Stock Market
Paring initial losses, the BSE benchmark Sensex today gained 51 points to end at 19,742.52 on fag-end buying, mainly in SBI and ITC shares.

The 30-share index recovered from initial losses to end higher by 51.10 points, or 0.26 per cent, at 19,742.52 as investors purchased banking and realty stocks available at attractive levels.

Similarly, the wide-based National Stock Exchange index Nifty rose by 13.30 points, or 0.22 per cent, to 6,001.70, after touching the day's low of 5,964.40.

Brokers said investors were selective in their buying and picked up fundamentally strong stocks.

Buying in front-line stocks like State Bank of India (SBI) and ITC helped overcome the the impact of a weak trend in Asian and European markets.

SBI climbed 1.07 per cent to Rs 2,493.45 after reports of a merchant banker upgrading the stock, while ITC rose for the first time in five days by adding 2.18 per cent to Rs 285.30. Mortgage lender HDFC Ltd gained 1.95 per cent to Rs 839.65.

Heavyweight stock RIL lost 0.56 per cent to Rs 850.35, while Infosys fell by 1.41 per cent to Rs 2,341.20 ahead of its quarter earnings on January 11.

In the 30-BSE index components, 16 stocks ended with gains while 14 finished lower. The realty and FMCG sector indices were the front runner on investment buying.

Markets @ 10.00 AM (Reuters)

The Sensex is down 0.06 percent and the Nifty is down 0.18 percent. Domestic share weakness comes on the back of weaker Asian shares that fell as investors were cautious ahead of corporate earnings season for the last quarter of 2012 and the European Central Bank's policy meeting later in the week.

Oil companies fell to profit-taking after a recent rally: Hindustan Petroleum Corp down 1.5 percent after adding 13.54 percent in previous four sessions while Bharat Petroleum Corp fell 0.7 percent.

Oil and Natural Gas Corp shares are down 0.7 percent while Oil India Ltd is down 0.6 percent.

Markets @ 09.00 AM (PTI)

The BSE benchmark Sensex on Tuesday declined by nearly 25 points in early trade as funds and retail investors booked profits after recent gains amid a weak trend in global markets.

The 30-share barometer, which had lost 92.66 points yesterday, fell by 24.65 points, or 0.12 per cent, to 19,666.77.

Stocks of realty, capital goods, FMCG, consumer durables and banking sectors declined due to profit-booking.

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