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FIIs' buying helps push Indian equities higher

business Updated: Jun 01, 2011 18:03 IST

PTI
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A benchmark index for Indian equities markets Wednesday closed 105 points higher amid volatile trade and healthy buys from foreign institutional investors.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,527.12 points, closed at 18,608.81 points, up 105.53 points or 0.57 percent from its previous close at 18,503.28 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange ended at 5,592 points, up 0.57 percent.

Broader markets too ended in the green with the BSE midcap index closing 0.82 percent up and the BSE smallcap index up 0.87 percent.

Capital goods, telecom and PSU stocks were among major gainers in Wednesday's trade. Consumer durables and healthcare stocks closed lower.

The market breadth was positive with 1,795 stocks advancing, 1,005 on the decline and 149 unchanged.

Gainers on the 30-scrip Sensex included: Reliance Communications, up 4.81 percent at Rs.93.70; NTPC, up 3.43 percent at Rs.174.75; L&T, up 2.33 % at Rs.1,682.35; and Bharti Airtel, up 1.95 % at Rs.381.45.

The losers were Tata Motors, down 1.19 percent at Rs.1,079.45; Tata Steel, down 1.17 percent at Rs.582.20; DLF, down 0.9 % at Rs.236.40; and RIL, down 0.53 % at Rs.946.75.

According to data available with the Securities and Exchange Board of India, foreign institutional investors bought scrips worth $280.1 million Wednesday.

Asian markets ended on a dull note after Tuesday's rally as latest data showed that the Chinese manufacturing output in May had grown at its slowest pace in the last nine months.

The Nikkei of the Japanese stock exchange closed 0.27 % up at 9,719.61 points, while Hong Kong's Hang Seng was ruling 0.24 % higher at 23,626.43 points.

The Shanghai Composite index of the Chinese markets closed flat at 2,743.57 points.

European markets were ruling subdued as traders looked forward to release of key economic data.

Britain's FTSE was down 0.28 %at 5,973.34 points.

Around midday, the French CAC 40 fell 0.18 percent at 3,999.77 points, while the German DAX was down 0.34 percent at 7,269 points.