The US Dow Jones Industrial Average ended 0.25 per cent higher on Wednesday as retailers results and solid economic data boosted confidence in the American economy.
Major index gainers were GAIL, Mahindra & Mahindra, ICICI Bank, Axis bank, Hindalco, Tata Steel and Zeel. Losers included, Lupin, Dr Reddy, TCS, Coal India, Cipla, SunPharma, Tech Mahindra and HDFC Bank.
According to brokers, a weak trend in other Asian bourses as investors watched the outcome of trade talks between the US and China, ahead of the April employment data, to be released later in the day, influenced market sentiments.
In the Asian region, Japan’s Nikkei fell 0.65 per cent, Hong Kong’s Hang Seng shed 1.07 per cent in early trade. China’s Shanghai Composite index too was down 0.59 per cent.
Domestic institutional investors picked shares worth a net Rs 359.35 crore while foreign portfolio investors sold shares worth a net Rs 1,300.93 crore on Monday, as per provisional data.
On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 1,119.51 crore, while domestic institutional investors (DIIs) bought equities to the tune of Rs 1,409.45 crore on Monday, provisional data showed.
Foreign portfolio investors (FPIs) sold shares worth Rs 728.71 crore on net basis, while domestic institutional investors (DIIs) too sold equities to the tune of Rs 152.39 crore on Wednesday, provisional data showed.
TCS market capitalisation stood at Rs 607,709.74 crore on Wednesday. Shares of the information technology (IT) major rose by 2.30 per cent to end at Rs 3,174.60 on BSE.
Currency traders said weakness in the dollar against major global currencies overseas supported the rupee.
Gains were led by realty, power, oil&gas, consumer durables and capital goods stocks. In the Sensex kitty, Wipro topped the gainers list by surging 2.54 per cent followed by Bajaj Auto which rose 2.24 per cent.
The 30-share barometer dropped by 160.09 points, or 0.63 per cent, to 25,102.12, with all sectoral indices led by FMCG, metal, IT and auto stocks leading the fall with losses up to 1.08 per cent.
The benchmark Sensex surged over 137 points in early trade today as investors built more bets amid increased foreign fund inflows.
Equities jumped for a second straight session today, led by gains in auto stocks on forecast of an ‘above normal’ rains this year, following back-to-back monsoon failures, while domestic investors and foreign funds increased buying ahead of key macroeconomic data due later in the day.
Buoyed by expectations of a good monsoon this year, the BSE Sensex regained the 25,000-mark today by rebounding 348 points to snap its two-day losing run, as investors widened their bets in bank and IT sectors in the last two hours of the session.
The 30-share barometer fell 53.77 points or 0.22 per cent to 24,631.65 with IT, teck, consumer durables, oils and gas, auto and banking stocks leading the fall.