Sensex builds on early gains

Monday, January 24, 2011

MUMBAI - A benchmark index for an Indian equities market Monday moved further up from its opening levels trading flat in noon trade even as broader markets saw buying action.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,095.69 points, was ruling at 19,172.23 points - 164.70 points or 0.87 percent up from its previous close at 19,007.53 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange too was ruling tightly bound at 5,748.1 points, 51.6 points or 0.91 percent higher.

Broader markets saw some gains with the BSE midcap index up 0.85 percent and the BSE smallcap index up 0.78 percent.

Banking, consumer durables and PSU stocks rose, while energy scrips were trading weak.

The market breadth was positive, with 1,767 stocks advancing compared to 852 scrips on the decline, while 111 stocks remained unchanged.

Among gainers on the Sensex were SBI, HDFC, BHEL and Tata Steel, while the losers included Wipro, RIL, Reliance Communications and Reliance Infra.

Other Asian stock markets were trading mixed with concerns that central banks in the region would tighten rates further to curb high inflation playing on investors’ minds.

The Chinese Shanghai Composite index rose 0.26 percent at 2,722.32 points, while the Japanese Nikkei closed 0.69 percent up at 10,345.11 points.

However, Hong Kong’s Hang Seng shed 0.34 percent to rule at 23,795.79 points.

Filed under: Economy

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