Millennium Post

Sensex rises 49 points on good earnings

In lacklustre equities market, the BSE Sensex rose 49 points to 18,758.63 on Thursday supported by good quarterly corporate earnings and a firm global trend, amid funds settling this month's derivatives contracts.

In all, 16 of the 30 Sensex stocks closed higher, led by auto, capital goods, banks and refinery sectors. HDFC, ICICI, M&M, Sterlite and ITC made strong gains.

Analysts attributed listless trading to the last day of settlement in derivatives contracts for October as investors rolled over their positions to the next month's series.

They said investors were awaiting the outcome of the Reserve Bank's monetary policy meeting next week.

The Sensex moved in a very narrow range of nearly 91 points before concluding at 18,758.63, up 48.61 points or 0.26 per cent. On Tuesday, it had fallen by 83.42 points or 0.44 per cent.

Similarly, the NSE's 50-issue index, Nifty, gained 13.90 points or 0.24 per cent at 5,705.30.
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