BSE Sensex surrenders early gains,trades flat

BSE Sensex had gained 467.38 points in the previous session.

Written by PTI | Mumbai | Published: October 21, 2013 10:25:20 am

The BSE Sensex failed to maintain initial gains and was quoted slightly lower in the morning trade on mild selling pressure mainly in consumer durables,IT and tech counters.

The 30-share index opened higher at 20,915.76 and moved up to 20,970.92 on buying in capital goods,auto and realty shares on the back persistent capital inflows from foreign funds coupled with higher global cues.

However,it later dropped to 20,831.17 and was quoted at 20,833.52 at 1030hrs,showing a marginal loss of 7.72 points,or 0.04 per cent,from its last weekend’s level.

However,the 50-share NSE Nifty looked up by 8.95 points,or 0.14 per cent,to 6,198.30 at 1030 hrs.

Major losers were Tata Consultancy Services (1.85 pct),Jindal Steel (1.17 pct),ITC(1.16 pct),HDFC Bank (1.15 pct) and HDFC (1.13 pct).

However,Larsen & Toubro rose by 4.32 pct followed by Maruti Suzuki India 3.67 pct,Hindalco Industries 2.57 pct,Tata Motors 2.55 pct,Sesa Sterlite Ltd 1.64 pct,Cipla 1.58 pct,GAIL 1.23 pct and Mahindra & Mahindra 1.22 pct.

Foreign institutional investors (FIIs) bought shares worth Rs 1752.98 crore on last Friday,according to provisional data from the stock exchanges.

Asian markets rose in early session as traders continued buying spree that began last week on bets that US Federal Reserve will continue its monetary stimulus for the world’s largest economy.

Key benchmark indices in Singapore,Hong Kong,China,Indonesia and Japan rose between 0.1 pct and 1.13 pct,while indices in South Korea and Taiwan fell between 0.12 pct and 0.21 pct.

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