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Sensex gains 131 points on fiscal’s last day, 8.23% in FY13 as a whole

The BSE benchmark Sensex closed the 2012-13 financial year on a positive note with the index on Thursday jumping by 131.24 points to one-week high of 18,835.77 helped by heavy buying in ICICI Bank, Infosys, L&T, ITC and ONGC shares, amid settlement of monthly derivative contracts.

The Sensex has gained 1,431.57 points (8.23 per cent) in 2012-13 fiscal. The BSE and NSE will remain closed on Friday, March 29, on account of Good Friday.

After opening flat on Thursday, the 30-share Sensex hit a new four-month low of 18,568.43 in the first hour of trade on weak Asian sentiments on concerns over the European debt crisis. A wave of buying in metal, capital goods, consumer durables and PSUs during last half hour of trade helped Sensex end at 18,835.77, a rise of 131.24 points or 0.7 per cent. This is its highest closing since 18,884.19 on March 20.

The CNX Nifty of NSE also improved further by 40.95 points or 0.73 per cent at 5,682.55. Banking counters from Sensex like ICICI Bank, HDFC Bank and SBI notched handsome gains between 1.04-2.37 per cent and contributed almost 65 points to the Sensex kitty. Other index component like Infosys, ITC, L&T, ONGC, TCS, Gail and CIL were also in demand. Tata Steel, Sterlite Ind and Hindalco gained in 2-4 per cent range.

Bucking the trend, RIL continued its losing streak for yet another session and lost 1.24 per cent. Tata Motors shed 2.16 per cent and Bharti Airtel declined by 1.77 percent. Buying was seen in second-line stocks with the S&P BSE-Midcap and S&P BSE-Smallcap indices outperforming Sensex, gaining 1.46 per cent and 1.32 per cent respectively.

Asian stocks closed lower on concern Europe’s debt crisis is deepening and after pending US home sales fell, damping earnings prospects for Asian exporters. Key indices in China, Hong Kong, Japan, Singapore and Taiwan ended down between 0.15-2.82 per cent. South Korean stocks finished flat.

Among the sectoral indices, the S&P BSE-Metal rose by 2.69 per cent, followed by the S&P BSE-CG (2.17), S&P BSE-CD (1.89), S&P BSE-PSU (1.76), S&P Bankex (1.66), S&P BSE-IT (1.14), S&P BSE-Realty (1.11) and S&P BSE-Power (1.04) and S&P BSE-Teck (1.03).

Nineteen of the 30-share Sensex pack ended higher while 11 finished with losses. Major gainers were Gail India (5.02 per cent), Hindalco Ind (3.98) and ONGC (2.92). Tata Motors dropped by 2.16 per cent Hero MotoCorp (1.95) and Bharti Airtel (1.77).


RS RECOVERS BY 7 PAISA AGAINST $, ENDS AT 54.29

In tandem with the late recovery in the domestic equities market, the rupee too wiped out initial losses and recovered by 7 paise to close at 54.29 against the dollar. Fresh dollar selling by exporters amid continued capital inflows and a feeble dollar overseas also supported the rupee rise, said a foreign exchange dealer.

At the Interbank Foreign Exchange (Forex) market, the local unit commenced lower at 54.47 a dollar from the previous close of 54.36 and eased further to a low of 54.48 on the back of weakness in stocks. Sustained month-end dollar demand at the early stages too weighed on the rupee in morning deals. However, it later bounced back on a smart recovery in local share markets to a high of 54.25 before settling at 54.29, a net rise of 7 paise (0.13 per cent).
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