Sensex ends 20 points higher in volatile trade
The BSE benchmark Sensex Thursday ended higher by 20 points at 22,344.04 after paring initial gains in volatile trade amid nervousness in markets ahead of Lok Sabha elections results on May 16.business Updated: May 08, 2014 18:59 IST
The BSE benchmark Sensex Thursday ended higher by 20 points at 22,344.04 after paring initial gains in volatile trade amid nervousness in markets ahead of Lok Sabha elections results on May 16.
Consumer durables, banking, auto and sectors gained, while realty and FMCG counters came under pressure.
After resuming higher, the 30-share index shot up to 22,443.13 on initial buying on the back of higher global cues after Federal Reserve Chairperson Janet Yellen said the Federal Reserve will continue to support the US economy.
The barometer, however, pared the gains and slipped to 22,344.04 at close on profit-booking, a meager gain of 20.14 points from its previous close.
The 50-share Nifty of NSE also moved up by 7.30 points to 6,659.85.
"It was a dull session on street as the benchmarks were remained in a narrow range and closed flat in the end. Sluggishness would continue as participants are now keeping extra caution ahead of general election outcome," said Jayant Manglik, president, retail distribution, Religare Securities.
Bhel gained 3.22%, followed by Cipla at 1.65%, Tata Motors 1.36%, ICICI Bank 1.33% and Wipro 1.05%.
Hero Motocrop 1.36% the biggest loser. ITC lost 1.34%.
Among the BSE sectoral indices, consumer durables rose by 1.30%, followed by Bankex 0.74%, Auto 0.58% and capital goods 0.39%, while realty dropped by 0.92% and healthcare 0.32%.
The market breadth remained negative as 1,407 stocks finished with losses, 1,322 stocks ended with gains while 139 ruled steady. The total turnover dropped to Rs 2,299.87 crore from Rs 2,789.65 crore on Wednesday.
Foreign institutional investors (FIIs) bought shares worth a net Rs 119.11 crore on Wednesday, as per provisional data from the stock exchanges.
Asian stocks ended higher. Key benchmark indices in Japan, Hong Kong, China, Singapore, South Korea and Taiwan ended higher by 0.26-0.93%.
European markets were also trading higher. Key indices in France, UK and Germany moved up by 0.51% to 0.58%.