Oil and consumer durables push Sensex 1.14 percent up (Roundup)

MUMBAI - A key index for Indian equities Monday gained 1.14 percent with robust buying in oil and consumer durables stocks.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,577.66 points, ended at 17,774.26 points, 199.73 points or 1.14 percent up from its previous close at 17,574.53 points.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty closed at 5,333.5 points, up 1.22 percent from its previous close at 5,269.05 points.

Broader markets indices too were in the green with the BSE midcap index closing 1.14 percent higher and the BSE smallcap index 1.1 percent up.

Consumer durables, oil and gas, realty and power scrips saw healthy buying. The government’s decision to deregulate auto fuels has made state-run oil marketing and upstream companies a good buy. FMCG stocks came under selling pressure.

The market breadth was tilted towards the positive, with 1,767 scrips on the advance, compared to 1,078 stocks declining, and 140 remaining unchanged.

Anil Dhirubhai Ambani group stocks ended the day as gainers again with flagship firm Relicance Communications scrip moving up 4.65 percent at Rs.201.45 on news of its tower business being merged with GTL Infra in a $11 billion deal.

Among some other gainers on the Sensex were Reliance Infra, up 4.04 percent at Rs.1,215.20; ONGC, up 3.19 percent at Rs.1,304.30; Tata Motors, up 2.35 percent at Rs.787.50.

Prominent losers included Sterlite Industries, down 1.52 percent at Rs.297.55; Jindal Steel, down 0.82 percent at Rs.637.75; Hero Honda, down 0.18 percent at Rs.2,046.35; and Maruti Suzuki, down 0.08 percent at Rs.1,396.

According to data available with the Securities and Exchange Board of India (SEBI), foreign instiututional investors sold scrips worth $61.03 million Monday.

Asian markets ended dull with a negative bias.

The Japanese Nikkei ended 0.45 percent lower at 9,693.94 points, while the South Korean Kospi closed at 1,732.03 points, 0.13 percent up.

Hong Kong’s Hang Seng closed 0.17 percent up at 20,726.68 points. The Chinese Shanghai composite index too was in the red at 2,535.28 points, down 0.69 percent.

European markets started strong, but gave up some of the gains on profit booking amid unclear signals from the G20 meeting, at the time of closing bell here.

Leaders of the G20 countries left room for individual nations to manoeuvre their economies, leaving investors confused over what it would mean to the global economic revival process.

In Britain, the benchmark index, FTSE 100 was ruling 0.33 percent higher at 5,063.1 points, while the French CAC 40 was up 1.04 percent at 3,556.32 points.

The German DAX was trading 1.12 percent higher at 6,138.86 points.