Sensex recovers 115 pts on strong global cues
The Sensex on Thursday broke two straight sessions of falls and closed 114.65 points up, buoyed by rise in capital goods, realty and power shares, amid expiry of monthly equity derivative contracts and strong global cues.business Updated: Nov 28, 2013 17:01 IST
The benchmark Sensex on Thursday broke two straight sessions of falls and closed 114.65 points up, buoyed by rise in capital goods, realty and power shares, amid expiry of monthly equity derivative contracts and strong global cues.
Gains in RIL, L&T, Infosys, HDFC and M&M shares helped the index log gains, while losses in ICICI Bank, Tata Motors and ITC capped further rise.
After losing 185 points in previous two sessions, the Sensex recovered by 114.65 points, or 0.56%, to 20,534.91. In the 30-share barometer, 23 constituents rose while seven fell. Overall, 12 of 13 BSE sectoral indices rose.
The 50-share National Stock Exchange index Nifty rose by 34.75 points, or 0.57%, to end at 6,091.85, after touching 6,112.95 intra-day.
Also, SX40 index of MCX Stock Exchange closed 65.24 points higher at 12,185.23.
Global stock indices closed in green tracking gains in US yesterday on analysts cheering data on jobless claims and consumer confidence.
However, the strength in US dollar weighed on rupee that was last trading at 62.3 levels, slipping from Wednesday's close of 62.14 -- a three-week high.
Brokers said equity investors and foreign funds were seen covering their pending positions created in recent bear phase.
On the expiry of monthly derivatives, Sahaj Agrawal, Deputy Vice President - Derivatives Research, Kotak Securities said: "Nifty ended the November series with loss of near 3%. Significant volatility was seen in the last week of the November series...next month is expected to witness increased volatility owing to (state) polls outcome."
Sectorally in the cash segment today, the BSE Capital Goods sector index gained the most as it rose 1.92%, followed by BSE Realty index (1.40%), BSE Power index (1.37%) and Metal index (0.95%).
Oil&gas shares saw modest gains after crude oil consolidated at a six-month low after US crude stockpiles rose for a tenth straight week.
First Published: Nov 28, 2013 09:53 IST