Sensex 87 points up at closing
The 30-share index fluctuates erratically between 14,526.44 and 14,406.67 before ending the day at 14,499.24.business Updated: Jun 21, 2007 19:02 IST
The Bombay Stock Exchange (BSE) benchmark Sensex on Thursday ended 87.29 points higher as strong Asian markets helped the domestic bourse sustain the rally in an otherwise choppy trading session.
Attributing the volatility to approaching expiry of June derivatives, brokers said the markets are expected to remain volatile till the end of the series on June 28.
The Sensex fluctuated erratically in a range of 14,526.44 and 14,406.67 before ending the day at 14,499.24, a gain of 0.61 per cent over yesterday's close of 14,411.95.
The broader S&P CNX Nifty of the National Stock Exchange (NSE) also strengthened further to close at 4,267.40 against previous close of 4,248.65, a net rise of 18.75 points or 0.44 per cent.
The market witnessed wide price movements as operators and Foreign Institutional Investors (FIIs) began to square off positions in the Futures and Options segment in the light of the derivatives contract expiring next Thursday.
FIIs have been covering short positions in the past few days, making net purchases to the tune of Rs 3,343 crore in derivatives consistently since June 14.
Shares of Capital Goods and Consumer Durables remained in the forefront of fresh buying interest.
Driven higher by a strong surge in L&T and BHEL, the BSE capital goods index hit an all-time high of 11,736.76 at close, gaining by 236.85 points or 2.06 per cent.
L&T, which jumped 3.88 per cent to a new trading high of Rs 2,149 and also closed at a new peak of 2,106.60, was the biggest gainer in the Sensex pack.