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Saturday, July 21, 2018

Sensex closes 37 points up

Sensex had gained 154 points in the previous session,closed higher by 36.83 points to settle at 16,896.63.

Written by Agencies | Mumbai | Published: June 20, 2012 5:01:07 pm

In choppy trade,the BSE Sensex today ended 37 points higher,led by metal,capital goods and healthcare stocks,with investors tracking firm global trends amid renewed hopes that Federal Reserve would come out with fresh steps to boost the US economy.

In the 30-share Sensex,18 stocks closed with gains while 12 ended in the negative zone. The uptrend was supported by Sterlite Industries,Tata Steel,Reliance Industries,Sun Pharma,Tata Motors,Hero MotoCorp and Dr Reddy’s Lab.

“Markets opened on a slightly positive note on supportive cues from the global markets and continued to gain… Profit booking emerged during the early afternoon session. Volatility was at fore today,” said Shanu Goel,Senior Research Analyst,Bonanza Portfolio.

The BSE benchmark index finally ended the day 36.83 points up at 16,896.63 after jumping 103 points intra-day.

Similarly,the 50-share National Stock Exchange index Nifty rose by 16.70 points,or 0.33 per cent to 5,120.55.

Brokers said global investor sentiment remained better on hopes that the Fed might expand stimulus measures when the two-day FOMC meeting concludes later today.

The domestic market was further supported by the trend in Asian stocks which surged to a one-month high and better opening in Europe followed by overnight gains in US markets.

Indices in Hong Kong,Japan,Korea and Indonesia closed up in the 0.3-1.2 per cent range while indices in France,Germany and the UK were trading mixed in initial trading.

The US meeting outcome is expected to dominate our markets tomorrow,according to Milan Bavishi,Head Research,Inventure Growth & Securities.

Meanwhile,rupee was trading at 56.10 against the dollar on thin volumes after closing at 55.96 yesterday. Experts feel foreign funds and high net-worth individuals are again buying Indian stocks.

Kishor P Ostwal,CMD,CNI Research Ltd. said,”Market closed in green on global cues. It seems some FII activity is happening with bias upside. Nifty closed today above 5120 which is a good sign. It has still not breached the resistance of 5155. Some improvement is seen in B group shares as many HNI are now re-entering markets although they are a bit cautious.”

Today,BSE-Midcap and BSE-Smallcap indices with gains of 0.80 per cent each outperformed Sensex’s 0.22 per cent rise.

Major gainers in Sensex were Sterlite Industries (3.07 pc),Dr Reddy (2.96 pc),Tata Motors (2.83 pc),Jindal Steel (2.62 pc),ONGC (1.91 pc),BHEL (1.68 pc),Tata Power (1.59 pc),Tata Steel (1.58 pc),Sun Pharma (1.29 pc),Hero Motocorp (1.27 pc) and HUL (1.27 pc).

However,TCS dropped by 1.71 per cent,followed by Coal India (1.53 pc),Bharti Airtel (1.29 pc),ITC (1.14 pc) and Maruti Suzuki (1.14 pc).

Among the sectoral indices,the BSE-Metal rose by 1.28 per cent,followed by the BSE-Capital Goods (1.17 pc),the BSE-Healthcare (1.16 pc) and the BSE-Power (0.99 pc).

The market breadth continued to remain positive as 1,617 stocks closed with gains while 1,090 ended with losses.

The total turnover moved up to Rs 1,903.98 crore from Rs 1,865.85 crore yesterday.

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