Sensex rebounds after three straight loss making days (Roundup)
By IANSFriday, October 29, 2010
MUMBAI - A benchmark index for Indian equities Friday closed 91 points higher, snapping a three-day losing streak.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,986.32 points, closed at 20,032.34 points, up 91.3 points or 0.46 percent from its previous close at 19,941.04 points.
At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty ended at 6,017.7 points, up 0.5 percent.
Broader markets, however, closed in the red. The BSE midcap index ended 0.87 percent lower, while the BSE smallcap index moved 1.5 percent down.
Banking and FMCG stocks ended in the green, while metal and ralty scrips were among the major losers.
Top Sensex gainers were ICICI Bank, up 6.54 percent at Rs.1,161.65; ITC, up 2.33 percent at Rs.171.15; Maruti Suzuki, up 1.86 percent at Rs.1,551.20, and RIL, up 1.18 percent at Rs.1,095.80.
Among the losers were Hindalco Industries, down 2.79 percent at Rs.210.50; Tata Motors, down 2.61 percent at Rs.1,159.45; Tata Steel, down 2.44 percent at Rs.590, and Reliance Infra, down 1.92 percent at Rs.1,035.80.
The market breadth was negative, with 865 stocks advancing, 2,137 declining and 96 remaining unchanged.
According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors were net sellers after weeks of constant buying. They sold scrips worth $125.35 million Friday.
Other Asian markets fell mainly on concerns over US and Japanese economies.
Hong Kong’s Hang Seng shut shop 0.49 percent lower at 23,096.32 points, while the Japanese Nikkei closed 1.75 percent down at 9,202.45 points.
The Shanghai Composite index too shut shop in the red at 2,978.83 points, down 0.46 percent.
European bourses were trading lower ahead of the release of key economic data and next week’s US Federal Reserve meeting on revision of interest rates.
Around mid-day, Britain’s FTSE 100 was trading 0.29 percent lower at 5,661.2 points.
The German DAX was down 0.12 percent at 6,587.23 points, while the French CAC 40 was 0.3 percent lower at 3,823.46 points.
