Sensex closes 120 points higher (Roundup)

MUMBAI - A benchmark index of Indian equities Wednesday moved up after a brief slip towards closing bell and closed 120 points higher.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,472.86 points, closed at 20,465.74 points, up 120.05 points or 0.59 percent from its previous close at 20,345.69 points.

At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty ended at 6,160.5 points - up 0.68 percent.

Broader markets also shut shop in the green. The BSE midcap index ended 0.6 percent higher, while the BSE smallcap index moved up 0.68 percent.

Metals, auto and consumer durables stocks led the gainers pack, while energy stocks ended lower.

Top Sensex gainers were Sterlite Industries, up 3.74 percent at Rs.176.10; Tata Motors, up 2.72 percent at Rs.1,185.30; ACC, up 2.49 percent at Rs.1,083.25, and SBI, up 2.19 percent at Rs.3,272.05.

Among the losers were Cipla, down 1.1 percent at Rs.346.90; Reliance Com, down 1.02 percent at Rs.180.25; RIL, down 0.85 percent at Rs.1,065.25, and Jaiprakash Associates, down 0.64 percent at Rs.124.20.

The market breadth was positive, with 1,648 stocks advancing, 1,322 declining and 143 remaining unchanged.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought scrips worth $209 million Wednesday.

Other Asian markets rose Wednesday tracking overnight gains in the US markets, following results of the mid-term elections in which the Republicans wrested control of the House from the Democrats.

The Republicans are seen as more business-friendly.

The Shanghai Composite index was ruling at 3,030.99 points, down 0.47 percent.

Hong Kong’s Hang Seng moved up 2 percent at 24,144.67 points. The Japanese markets were closed.

European bourses were trading mixed on expectations of the US Federal Reserve’s stimulus plan and commitment to ease interest rates further.

Around mid-day, Britain’s FTSE 100 was trading 0.16 percent at 5,766.37 points.

The German DAX was also listless, up 0.26 percent at 6,671.29 points, while the French CAC 40 was 0.53 percent higher at 3,886.06 points.