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HindustanTimes Fri,29 Aug 2014

Sensex regains 20,000 mark

HT Correspondent, Hindustan Times  Mumbai, January 23, 2013
First Published: 09:49 IST(23/1/2013) | Last Updated: 22:56 IST(23/1/2013)

The benchmark Sensex of the Bombay Stock Exchange (BSE) on Wednesday regained 20,000-mark by gaining 45 points to close at 20,027, up 0.2%, on gains in Bharti Airtel, ITC and banking stocks.


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However, sentiments remain constrained ahead of key company results and monetary policy by Reserve Bank of India (RBI), scheduled to be announced on Tuesday.

“Markets opened on a flat note and continued to show weakness in first half of the trading session as profit booking was seen at higher levels,” said Nidhi Sarswat, senior research analyst, Bonanza Portfolio.

The broad-based National Stock Exchange index Nifty rose by 5.80 points or 0.10% to 6,054.

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Bharti Airtel closed at R367 up 4.4% as it announced to hike rates of special tariff vouchers and reduced free minutes usage, barely a month after hiking price of 2G data plans while ITC shares rose 1.25% to close at Rs. 292 on the BSE.

Shares of FMCG major Hindustan Unilever tumbled 4.34%, extending Tuesday’s 2.8% loss, after the company said it decided to increase the rate of royalty payment to parent Unilever Plc.

“Today we have seen heavy sell-off in some of the mid-cap and small-cap stocks, which is an early indication of bull liquidation ahead of the January F&O (Futures and Options) expiry. So investors should take extreme caution while initiating positions,” said Alex Mathews, head research, Geojit BNP Paribas Financial Services.

In the banking sector index, State Bank of India, HDFC Bank, HDFC and ICICI Bank gained. Foreign institutional investors (FIIs) continued their buying and injected a net Rs.1,046.40 crore on Tuesday as per provisional data from the stock exchanges.


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