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Sensex Up 34 Pts In Choppy Trade, Ends At 27,831.10
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In a choppy trade, the benchmark S&P BSE Sensex snapped its three-day of losing trend and survived to close in the positive terrain, up marginally by 34 points, to end at 27,831.10 on firm European trend, despite capital outflows.
However, buying in select key counters supported the sensex while two-tier stocks attracted good buying interest from retail investors and their indices outperformed sensex.
Rise in SBI, ONGC, Tata Motors, ICICI Bank, HDFC Bank, Dr Reddy's Lab, Cipla, Hero MotoCorp and Tata power mainly aided the sensex rise while fall in L&T, RIL, HUL, Bajaj Auto, BHEL and Gail India capped the surge.
The BSE 30-share barometer resumed lower in line with mixed cues from Asian peers and moved erratically in a range of 27,905.25 and 27,710.03 before concluding at 27,831.10, showing a rise of 34.09 points or 0.12 per cent.
In last straight three sessions, it has tumbled by 765.81 points or 2.68 per cent.
The wide-based 50-issue CNX Nifty of the NSE also recovered by 14.95 points or 0.18 per cent to 8,355.65.
Meanwhile, Foreign portfolio investors (FPIs) sold shares worth a net Rs 221.52 crs yesterday as per provisional data.
Asian markets ended mixed, tracking an uninspiring finish on Wall Street overnight triggered by global growth concerns, political uncertainty in Greece, a rout in oil prices and a selloff in Chinese shares in the previous session.
Key indices from China, Hong Kong and Singapore closed with gains while from Japan, South Korea and Taiwan finished with losses.
European stocks were trading higher in their afternoon trade after yesteday's slide triggered by political uncertainty in Greece. Key indices in Germany, UK and France were up by 0.29 per cent to 0.79 per cent.
US stocks ended mixed on Tuesday (09 December) with the Nasdaq Composite rallying after stiff losses, as investor concern about the global economy ebbed.
Jignesh Chaudhary, Head Of Research, Veracity Broking Services said, " Concern over global growth, political uncertainty in Greece & India?s CAD issue forced local indices to trade weak for the past three days in a row but today local equities opened slightly weak and as the day progressed the Indian local indices gained with the help of some blue chip co. and closed in green".
In the domestic market, 13 scrips out of the 30-share sensex pack ended higher while 17 others declined.
Major gainers were SBIN (3.06 per cent), ONGC (2.44 per cent), Tata Power (1.87 per cent), Tata Motors (1.53 per cent), Cipla (1.48 per cent), Dr Reddy's Lab (1.37 per cent) and Hero Motocorp (1.13 per cent).
However, BHEL fell by 2.30 per cent followed by Gail 2.01 per cent, HUL 1.79 per cent, Bajaj Auto 1.45 per cent and Larsen 1.01 per cent.
Among the S&P BSE sectoral indices, CD rose by 2.43 per cent followed by Bankex 1.01 per cent and Power 0.74 per cent while CG fell by 0.99 per cent.
Small-cap and Mid-cap indcies also rose by 1.06 per cent and 0.93 per cent respectively on fresh buying from retail investors.
Overall market breadth turned positive as 1,665 stocks finished higher, 1,268 stocks ended lower while 106 ruled steady. Total turnover moved up slightly to Rs 3,040.59 crores from Rs 3,049.29 crore on Tuesday.
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