MUMBAI: The Bombay Stock Exchange benchmark index, Sensex, today gained 35 points in range-bound trading, amid food inflation falling to single digit and mixed trends in Asia.
The 30-share Sensex, which dropped by 120 points in the previous session, gained 34.63 points to end the day at 17,992.00 points Markemen said investors rolled over their positions in derivative segment from July to August series, enthused by reports of easing food prices. Food inflation was 9.67 per cent for the week ended July 17 from over 12 per cent in the previous week.
Broad-based National Stock Exchange index Nifty also rose by 11.35 points to 5,408.90. Major gainers in the index stocks were HDFC Ltd, ICICI Bank, HDFC Bank, Hero Honda and Tata Motors. Trend-setter Reliance Industries fell further by Rs 10.50 to Rs 1,010.45. It had tumbled 3.1 per cent in the previous session.
A mixed trend in Asia and higher opening in Europe this afternoon with the London exchange FTSE-100 rising 0.26 per cent also influenced the market sentiment, brokers said.
Steady inflow of higher quarter earnings by leading companies such as HCL Technologies also supported the market. HCL Technologies, a software maker, rose to the highest in a month after its fourth-quarter net income climbed 23 per cent. Broader markets indices were also flat with the BSE midcap index 0.27 percent up, while the BSE smallcap index ended 0.16 percent lower.
The market opened on a steady note. But later it was moving down with fluctuations witnessed throughout the session. At the end of the day, it recovered and finished on a positive note. Telecom and oil marketing companies’ shares were the major
gainers; Bharti & Idea Cellular surged 20 pc each, brokers said. FMCG and select metal companies’ shares along with Tata Motors, HCL Tech, Hero Honda, Ambuja Cements, GAIL and ABB lifted the market up. However, telecom, oil & gas, power and healthcare companies’ shares along with SAIL, TCS, DLF, L&T, JSPL and Siemens witnessed selling pressure, which capped the gains to a major extent. The 30-share BSE Sensex closed at 17,992, up 34.63 points and the 50-share NSE Nifty rose just 11.35 points to settle at 5,408.90.
The sensex registered the day’s high and low at 18013.10 and 17,902.84 respectively. Nifty recorded the day’s high and low at 5415.85 and 5381.55 respectively. The turnover was of Rs 4579 crore, lower than Rs 5028 crore yesterday. The market breadth was negative. On BSE, 1545 shares declined while 1378 shares advanced. A total of 87 shares remained unchanged. From the 30 share Sensex pack, 16 stocks fell and the rest rose.
