Millennium Post

Sensex up 62 points on IT, Metals, FMCG, auto share demand

In lacklustre trade ahead of the outcome of the US Federal Reserve two-day meeting starting Tuesday and mid-quarter monetary policy review by the RBI later this week, the benchmark S&P BSE Sensex improved further by 62 points to end at 19,804.03 on buying in IT, Metal, FMCG and auto counters, despite weak global cues. The Bombay Stock Exchange 30-share barometer gyrated in a range of 19,819.10 and 19,635.44 before settling at 19,804.03, showing a rise of 61.56 points (0.31 per cent).

The wide-based 50-issue Nifty of the NSE too edged up by 9.65 points (0.17 per cent) to 5,850.20.

Cautious operators as well as retail investors are eyeing on the two-day policy meeting of the Federal Open Market Committee (FOMC) and expected cutbacks in its bond-purchase programme which has kept global markets flush with liquidity in recent years.

Inflation has been ticking upwards since June, adding to the problems faced by new RBI Governor Raghuram Rajan as he prepares for his first policy meeting on 20 September.
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