Sensex ruling in tight range, broader markets give up gains

Monday, February 7, 2011

MUMBAI - A benchmark index for Indian equities markets around Monday noon was trading in a tight range, even as broader markets gave up their early gains.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,135.02 points, was ruling at 18,085.51 points, up 77.36 points or 0.43 percent from its previous close at 18,008.15 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was trading 0.21 percent higher at 5,406.85 points.

Broader markets, which had moved up in morning trade, slipped with the BSE midcap index ruling 0.27 percent down and the BSE small cap index trading 0.37 percent lower.

Healthcare, consumer durables and capital goods scrips were in the red, while FMCG and realty stocks gained.

The market breadth was negative, with 1,199 stocks advancing compared to 1,350 scrips on the decline. A total of 83 stocks remained unchanged.

The major gainers on the Sensex were Hero Honda, ITC, Bharti Airtel and HDFC Bank. The losers included Cipla, Hindalco Industries, Tata Motors and Wipro.

Other Asian markets saw some recovery as traders took some hope from the US employment data, which showed recovery in the job market.

The Japanese Nikkei moved up 0.44 percent to rule at 10,589.73 points, while Hong Kong’s Hang Seng was trading 0.49 percent down at 23,791.46 points.

The Chinese markets were closed on account of the annual Lunar New Year holidays.

Filed under: Economy

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