HindustanTimes Wed,22 Oct 2014

Sensex inches up to 2-month highs; L&T tanks 7% after results

PTI  Mumbai, July 22, 2013
First Published: 09:52 IST(22/7/2013) | Last Updated: 17:33 IST(22/7/2013)

Extending its winning run for fourthday, the BSE Sensex today inched up 9 points to close at two-month high of 20,159.12 helped by smart gains in HDFC, ICICI Bank and Infosys shares even as L&T tanked by over 7% after reporting a decline in profit. BHEL, Tata Steel, RIL and ONGC also saw losses but rate-sensitive auto and banking stocks helped Sensex end up.


In see-saw trade, the 30-share Sensex surrendered hefty gains in last two hours to end 9.27 points, or 0.05%, up at 20,159.12.

19 Sensex stocks gained and 11 dropped. The Sensex had gained 299 points in past 3 days. The broad-based National Stock Exchange index Nifty edged up by 2.60 points, or 0.04% to 6,031.80.

Also, SX40 index, the flagship index of MCX-SX, closed 12.62 points up at 12,059.31. "Markets witnessed a quite volatile session today, ahead of the FO expiry this week on Thursday," said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio.

The trend further weakened on over 12% drop in L&T April-June quarter profit at Rs. 756.03 crore. However, a rebound in banking sector on value-buying and firm trend in global markets helped the market end in green, they added.

Energy major RIL ended seven-day rally by dropping 1.59 per cent to Rs. 908.50 and engineering major Larsen and Toubro fell 7.46% to Rs. 901.95. BHEL plunged by 7.05% to Rs. 161.50 as concerns over new orders remained.

Sectorally, BSE Banking index rose by 0.98% after losing 6.2% last week. HDFC Ltd today shot up by 3.17%, ICICI Bank by 1.64% and SBI by 0.55%.

The auto sector index gained the most by 1.06%. On the other hand, capital goods index dropped by 5.57% and oil and gas index by 1.65%.

more from Business

Gold is glittering this Dhanteras

Gold is glittering this Dhanteras as jewellers are experiencing good sales driven by better prices compared to last year. Last year, there was a supply crunch of gold in the market after the government hiked its import duty to 15% to curb higher import as that was causing imbalance in the current account deficit in the country.
Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved