Sensex rebounds to close with modest gains (Roundup)

Monday, October 18, 2010

MUMBAI - A benchmark index of Indian equities soared in the last hour of trade Monday to close 84 points higher, having languished for most part of the day. Broader markets, however, ended subdued.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,160.55 points, closed at 20,168.89 points, up 43.84 points or 0.22 percent from its previous close at 20,125.05 points.

The Sensex hit an intra-day low of 19,870.51 points.

At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty shut shop at 6,075.95 points, 0.22 percent higher.

Broader markets, however, ended in the red. The BSE midcap index closed 0.47 percent lower, while the BSE smallcap index ended 0.15 percent down.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought scrips worth $147.63 million Monday. For the month, FII fund inflows have topped $5.2 billion.

Consumer durables led the losing lot, while IT, energy and realty stocks figured among the gainers.

The market breadth was negative with 1,236 stocks advancing, 1,715 declining and 133 remaining unchanged.

Top Sensex gainers were TCS, up 2.98 percent at Rs.979.35; NTPC, up 1.7 percent at Rs.206.90; Tata Steel, up 1.56 percent at Rs.646 and ONGC, up 1.42 percent at Rs.1,360.50.

Top losers included ACC, down 2.86 percent at Rs.970.05; Bharti Airtel, down 2.21 percent at Rs.326.85; Jaiprakash Associates, down 1.8 percent at Rs.128.35, and Tata Power, down 1.61 percent at Rs.1,394.40.

Other Asian markets were subdued with some amount of profit-taking eating into mid-day gains.

Hong Kong’s Hang Seng ended 1.21 percent lower at 23,469.38 points, while the Japanese Nikkei closed flat at 9,498.49 points.

The Shanghai Composite index was trading at 2,955.23 points, down 0.54 percent.

European stock markets were mixed as heightened expectations from proposed monetary policy incentives from various central banks subsided.

Around mid-day, Britain’s FTSE 100 was trading 0.13 percent lower at 5,710.72 points.

The German DAX was ruling 0.35 percent higher at 6,515.14 points, while the French CAC 40 was flat at 3,824.71 points.

Filed under: Economy

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