We Report, You Decide

Sensex up by 111 pts for fourth session

Mumbai: The BSE benchmark sensex continued its rising trend for the fourth consecutive session by surging another 111 points to finish at 17,503.71 in view of buying in Auto, Healthcare and FMCG counters on the back of sustained foreign capital inflows coupled with higher European cues.

Shares of HDFC Bank, Tata Motors and Sun Pharmaceutical Industries scaled record highs. The BSE benchmark sensex resumed higher 17,432.89 and hovered in a range of 17,530.30 and 17,361.71 before ending the day at 17,503.71, showing a net gain of 111.32 points or 0.64 per cent from its last close.

The NSE 50-share Nifty also looked up by 32.40 points or 0.61 per cent to 5,332.40. India`s largest commercial vehicle maker by sales Tata Motors ended higher by 3.15 per cent to Rs 319.35. Banking pivotals were mixed. India`s second largest private sector bank in terms of net profit HDFC Bank firmed up by 3.22 per cent to Rs 554.20.

The Reserve Bank of India (RBI) issued a notification to reduce the bank rate or the interest the banks and financial institutions pay to the central bank on borrowed funds to 9 per cent from 9.5 per cent. Foreign institutional investors (FIIs) bought shares worth Rs 221.63 crore on Wednesday as per provisional data from the stock exchanges. European stocks were trading firm in their early trade. The key benchmark indices in UK, Germany and France were up by between 0.68 per cent to 1.01 per cent.

Indication of higher opening in US index futures also boosted the market sentiment. However, Asian stock markets ended mixed ahead of a key Spanish bond sale that would test the market`s risk appetite. Key benchmark indices in China, Japan, Indonesia and South Korea were down by between 0.09 per cent to 0.82 per cent while indices in Singapore, Taiwan and Hong Kong rose by between 0.23 per cent and 1.03 per cent.

Out of the 30-share sensex pack 21 scrips finished higher and eight declined while DLF ruled steady. Other gainers from the sensex pack were Coal India (3.85 pct), Maruti Suzuki (2.92 pct), Hero Motoco (2.42 pct), M&M (2.01 pct), Cipla (1.51 pct), Infosys (1.31 pct), HDFC (1.21 pct), ITC (1.12 pct) and HUL (0.90 pct). However, BHEL fell by 3.66 pct followed by Hindalco Ind 1.91 pct, Gail India 1.77 pct, Wipro 1.35 pct, Reliance Ind 1.01 pct and SBI 0.80 pct.

Among the sectoral indices the BSE-Auto shot up by 2.05 pct, the BSE-HC 1.18 pct, the BSE-FMCG 0.96 pct, the BSE-Metal 0.80 pct and the BSE-IT 0.74 pct. The total market breadth at the BSE continued to remain positive, as 1,492 stocks gaining ground, while 1,364 ending with losses. The total turnover declined to Rs 2,216.38 crore from Rs 2,418.81 crore on Wednesday.

You might also like

Comments are closed.

End Google Tag Manager (noscript)