Sensex Closes Barely 34 Points Up

Mumbai, Apr 18: The BSE Sensex erased initial gains today and closed barely 34 points up at 17,392.39 on profit booking after the surge markets had made following the lending rate cut by RBI.Sensex was
sensex closes barely 34 points up - India TV
PTI April 18, 2012 18:33 IST
Mumbai, Apr 18: The BSE Sensex erased initial gains today and closed barely 34 points up at 17,392.39 on profit booking after the surge markets had made following the lending rate cut by RBI.

Sensex was also pulled down by weak European openings after it had made gains in line with Asian markets. Besides, a spurt in retail inflation to 9.47 per cent in March, up from 8.83 per cent in February made investors cautious.  Auto, healthcare, oil & gas and metal stocks attracted buying.

The BSE 30-scrip Sensex opened higher at 17,447.26 and moved between 17,522.80 and 17,371.93. It closed at 17,392.39, up 34.45 points or 0.20 per cent from its last close. It had gained over 263 points in the last two sessions.

The market spurt yesterday after the Reserve Bank cut lending rate by 0.50 per cent to spur economic growth.  The NSE 50-scrip index Nifty gained 10.30 points or 0.19 per cent to end at 5,300.

“Market opened on an enthusiastic note on optimism after RBI cut the interest rates by more than expected. Positive closings in the US markets too buoyed the sentiments,” said Shanu Goel Research Analyst Bonanza Portfolio.

“However, apart from profit-booking, sentiments were further hurt as European markets opened on a negative note,” she said.

In Asia, key indices in China, Taiwan Hong Kong, Japan, Singapore and South Korea gained by up to 2.14 per cent.  However, in Europe, CAC (France), DAX (Germany) and FTSE (Britain) were down by up to 1.05 per cent in the afternoon.  Of the 13 sectoral indices, top gainers were BSE-Auto - 1.52 per cent, Healthcare - 1.01 pc, Oil & Gas - 0.77 pc and Metal - 0.75 pc.

Major Sensex gainers were Bajaj Auto (2.80 pc), followed by Tata Motors (2.70 pc), Sun Pharma (2.52 pc), Tata Power (2.30 pc), Hindalco (2.15 pc), Wipro (1.40 pc), M&M (1.15 pc), HDFC Bank (1.14 pc) and Jindal Steel (1.03 pc).  However, DLF fell 2.05 per cent, ITC - 1.79 pc and L&T - 0.95 pc.

The total market breadth at the BSE remained positive, as 1,625 stocks gaining ground, while 1,251 ending with losses.  The total turnover declined to Rs 2,418.81 crore from Rs 2,713.78 crore yesterday.
 
Assembly Elections 2017
 
 

You May Like

   
 

More from business