Sensex up 30 pts in cautious trade amid debate on FDI
The BSE Sensex today gained 30 points in cautious trade amid all-party meet on government's move to push through economic reforms, especially FDI in multi-brand retail and weak markets globally.business Updated: Nov 26, 2012 16:51 IST
The BSE Sensex on Monday gained 30 points in cautious trade amid all-party meet on government's move to push through economic reforms, especially FDI in multi-brand retail and weak markets globally.
The Sensex, which had lost nearly 11 points in the previous session, rose 30.44 points, or 0.16% to 18,537.01 led by stocks of software exporting companies on weakening rupee.
It had traded 76 points up in the opening hour. Brokers said trading volumes declined as investors remained cautious.
The broad-based National Stock Exchange index Nifty rose by 9.30 points, or 0.17% to 5,635.90.
Marketmen said the gains were also restricted on weakening trend in the global markets amid plans to finalise a bailout deal for Greece and budgetary impasse in the US.
The Sensex heaviest weighed Reliance Industries rose by 0.04 per and the second heaviest, software exporter Infosys by 1.71%.
TCS, the leading software exporter shot up by 0.31% and Tata Steel jumped by 1.96%. The steel giant is cutting 900 jobs at its UK units.
In the broader market, Jet Airways stock rose amid reports of talks between the airline and UAE's Etihad Airways for stake sale in the company. Jet stock shot up by 10.81%.
Meanwhile, Hindustan Copper plunged 20% to hit its lower daily limit for the second consecutive day to trade after government's stake sale.