Sensex gains 209 pts, pulled down by Re, ends just 39 up
27 Aug 2013 9:59 PM GMT
The benchmark S&P Bombay stock Exchange (BSE) Sensex on Monday rose 39 points, settling in positive terrain for the third straight session, after erasing most of its early gains as the rupee once again weakened past the 64-mark against the dollar.
Brokers said trading sentiment was initially firm after the Finance Ministry indicated that steps to attract capital flows to fund the current account deficit can be expected within a week. The announcement followed Finance Minister P Chidambaram's meetings with overseas investors and top bankers in Mumbai on Saturday.
The 30-share barometer opened higher and climbed to 18,728.19, a rise or 208.75 points. Later, selling in banking, refinery and PSU stocks pulled it down to settle at 18,558.13, a gain of 38.69 points or 0.21 per cent. The closing level was the highest since 16 August, when it was at 18,598.18.
The wider CNX Nifty on the National Stock Exchange edged up 4.75 points, or 0.09 per cent, to 5,476.50. The SX40 index on the MCX-SX closed 60.45 points up at 11,021.18.
'Some short covering along with cautious buying at lower levels aided market recovery,' said Nidhi Saraswat, senior research analyst at Bonanza Portfolio Ltd. 'However, market remains wary about the present situation of Indian rupee as well as economic condition of the country.'
Power, capital goods, IT and pharma shares attracted buying interest.
Heavy electrical equipment major Bhel was the top gainer in the Sensex pack for the second straight day and closed up 6.63 per cent, adding to Friday's 8.1 per cent gain. The market may remain volatile ahead of the expiry of futures & options August contracts on Thursday.
Asian stocks were mixed after a slump in US home sales eased speculation the Federal Reserve will reduce its economic stimulus next month. Key indices in Hong Kong, China, Taiwan and South Korea ended higher while indices in Japan and Singapore closed lower.
In the domestic market, 19 Sensex shares finished higher, led by BHEL (6.63Â per cent), Sterlite Industries (2.79Â per cent), Wipro (2.52Â per cent), NT per cent (2.52Â per cent) and Hero MotoCorp (2.35Â per cent). ONGC fell 3.16Â per cent, followed by GAIL India 3.02Â per cent and ICICI Bank 2.58Â per cent.
Among the sectoral indices, S&P BSE-Power firmed up by 1.56Â per cent, S&P BSE-Capital Goods 1.25Â per cent and S&P BSE-Healthcare 1.12Â per cent. The market breadth remained positive as 1,298 shares ended with gains.
Brokers said trading sentiment was initially firm after the Finance Ministry indicated that steps to attract capital flows to fund the current account deficit can be expected within a week. The announcement followed Finance Minister P Chidambaram's meetings with overseas investors and top bankers in Mumbai on Saturday.
The 30-share barometer opened higher and climbed to 18,728.19, a rise or 208.75 points. Later, selling in banking, refinery and PSU stocks pulled it down to settle at 18,558.13, a gain of 38.69 points or 0.21 per cent. The closing level was the highest since 16 August, when it was at 18,598.18.
The wider CNX Nifty on the National Stock Exchange edged up 4.75 points, or 0.09 per cent, to 5,476.50. The SX40 index on the MCX-SX closed 60.45 points up at 11,021.18.
'Some short covering along with cautious buying at lower levels aided market recovery,' said Nidhi Saraswat, senior research analyst at Bonanza Portfolio Ltd. 'However, market remains wary about the present situation of Indian rupee as well as economic condition of the country.'
Power, capital goods, IT and pharma shares attracted buying interest.
Heavy electrical equipment major Bhel was the top gainer in the Sensex pack for the second straight day and closed up 6.63 per cent, adding to Friday's 8.1 per cent gain. The market may remain volatile ahead of the expiry of futures & options August contracts on Thursday.
Asian stocks were mixed after a slump in US home sales eased speculation the Federal Reserve will reduce its economic stimulus next month. Key indices in Hong Kong, China, Taiwan and South Korea ended higher while indices in Japan and Singapore closed lower.
In the domestic market, 19 Sensex shares finished higher, led by BHEL (6.63Â per cent), Sterlite Industries (2.79Â per cent), Wipro (2.52Â per cent), NT per cent (2.52Â per cent) and Hero MotoCorp (2.35Â per cent). ONGC fell 3.16Â per cent, followed by GAIL India 3.02Â per cent and ICICI Bank 2.58Â per cent.
Among the sectoral indices, S&P BSE-Power firmed up by 1.56Â per cent, S&P BSE-Capital Goods 1.25Â per cent and S&P BSE-Healthcare 1.12Â per cent. The market breadth remained positive as 1,298 shares ended with gains.
Next Story
