Sensex recovers marginally after initial weakness
The S&P BSE benchmark recovered by mere five points in the late morning trade after initial weakness in view of mild buying, mainly in metal, realty, auto and consumer durable sectors, on the back of persistent foreign capital inflows.business Updated: Oct 10, 2013 11:43 IST
The S&P BSE benchmark recovered by mere five points in the late morning trade after initial weakness in view of mild buying, mainly in metal, realty, auto and consumer durable sectors, on the back of persistent foreign capital inflows.
The Sensex resumed lower at 20,228.76 and hovered in a range of 20,211.79 and 20,323.77 before quoting at 20,254.16 at 1030 hrs, showing a marginal gain of 4.90 points or 0.02% from its last close.
The NSE 50-share Nifty also moved up by 7.90 points or 0.13% to 6,015.35 at 1030 hrs.
Major gainers were Jindal Steel (2.06%), SSLT (2.06%), Tata Steel (1.72%), Maruti (1.26%), Hero Motocorp (1.24%), Cipla (1.22%), Hindalco (1.13%) and Tata Motors (1.06%).
However, HDFC dropped by 1.25% followed by ICICI Bank at 0.96%, Sun Pharma at 0.87% and Reliance Industries at 0.69%.
Tata Steel extended Wednesday's gains triggered by the company's announcement of increase in production and sales deliveries of steel in Q2 of 2013.
Foreign institutional investors (FIIs) bought shares worth a net Rs 326.58 crore yesterday as per provisional data from the stock exchanges.
Asian markets were trading mixed in their early trade. Key benchmark indices in Singapore, Japan and Indonesia rose by 0.44% to 0.77% while indices in China, Hong Kong and South Korea fell by 0.01% to 0.88%.