Sensex Recovers Most Of Its Overnight Losses, Up By 27 Pts

The Indian benchmark sensex today recovered most of its overnight losses and rose by nearly 27 points on firm global trends to end at nearly 3-month high of 17,425.71 on buying in consumer durable, realty and PSU counters.

HDFC, Bharti Airtel, ICICI Bank, ONGC, Coal India, Gail India and Hindalco attracted good buying support while ITC, TCS and HUL remained on the sellers list for the second day which restricted the sensex gains.

The Bombay Stock Exchange 30-share barometer resumeed better and touched a high of 17,526.82, up by nealy 128 points but reacted downwards at the fag end to a low of 17,351.50 before concluding at 17,425.71, showing a net rise of 26.73 points or 0.15 per cent.

The wide-based NSE NIfty 50-issue also edged up by 9.35 points or 0.18 pct to 5,287.95.

Meanwhile, foreign institutional investors (FIIs) bought shares worth Rs 591.06 crore yesterday, as per provisional data from the stock exchanges.

Second line stocks attracted good buying support on retail investors buying and outperformed the sensex as the BSE-Smallcap index rose by 0.80 pct and the BSE-Midcap by 0.48 pct respectively.

Asian stocks ended higher on hopes that central banks in the US and Europe may ease monetary policy to spur economic growth.

Key benchmark indices in China, Hong Kong, Japan, South Korea, Singapore and Taiwan closed up between 0.14 pct and 1.51 pct. 

ey benchmark indices in China, Hong Kong, Japan, South Korea, Singapore and Taiwan closed up between 0.14 per cent and 1.51 per cent.

European stocks were trading in positive terrain in their afternoon deals as investors bet on further policy action from the regions's central bank to spur growth after Monday's weak manufacturing data from Eurozone.

France's CAC was up by 0.29 per cent, Germany's DAX was trading 0.69 per cent higher and the UK's FTSE was also up by 0.24 per cent.

Major gainers from the Sensex pack were Bharti Airtel (3.11 pc), Hindalco (2.27 pc), Coal India (1.96 pc), HDFC (1.96 pc), Gail India (1.87 pc), Dr Reddy Lab (1.49 pc), ONGC (1.44 pc), Sterlite (1.06 pc) and Maruti Suzuki (0.90 pc).

However, Bhel fell by 1.59 per cent, followed by Jindal Steel (1.46 pc), TCS (1.43 pc), ITC (1.3 pc) and Hindustan Unilever (1.04 pc).

Among the sectoral indices, the BSE-Consumer Durable rose by 2.98 per cent, followed by the BSE-Realty (1.97 pc), the BSE-PSU (1.03 pc) and the BSE-Metal (0.77 pc) while the BSE-FMCG declined by 0.76 per cent and the BSE-IT slid by 0.50 per cent.

Second line stocks attracted good buying support on buying by retail investors and outperformed the Sensex as the BSE- Smallcap index rose by 0.80 per cent and the BSE-Midcap inched up by 0.48 per cent.

The market breadth remained positive as 1,728 shares finished higher while 1,139 scrips ended lower. The total turnover firmed up to Rs 2,062.65 crore from Rs 1,979.08 crore yesterday.

Meanwhile, foreign institutional investors (FIIs) bought shares worth Rs 591.06 crore yesterday, as per provisional data from the stock exchanges.

(PTI)