Sensex snaps 5-day losing streak, up 33 points
The benchmark S&P BSE Sensex snapped its 5-day losing streak and recovered 33 points in morning trade on fresh buying mainly in realty, FMCG, capital goods, IT and teck stocks amid higher global cues.business Updated: Nov 12, 2013 11:33 IST
The benchmark S&P BSE Sensex snapped its 5-day losing streak and recovered 33 points in morning trade on fresh buying mainly in realty, FMCG, capital goods, IT and teck stocks amid higher global cues.
The 30-share index resumed higher at 20,510.31 and hovered in a range of 20,584.22 and 20,485.74 before quoting at 20,524.10 at 1015 hours, a gain of 33.14 points or 0.16% from its last close.
The NSE 50-share Nifty moved up by 12.35 points or 0.20% to 6,091.15 at 1015 hours.
The major gainers were Hindalco (2.02 pct), Wipro (1.48 pct), Maruti Suzuki (1.31 pct), Larsen (0.91 pct) and ITC (0.88 pct).
Foreign institutional investors continued buying shares with purchases of a net Rs 333.50 crore yesterday, according to provisional data from the stock exchanges.
IT shares firmed up due to depreciation in the value of the rupee against the dollar.
In the foreign exchange market, the rupee edged lower to 63.52 against the dollar and was quoted at 63.49 at 1015 hours.
Most Asian stock markets rose for the second day in early trade.
Key indices in China, Japan, Taiwan and South Korea rose between 0.45 % and 1.66 % while indices in Singapore, Hong Kong and Indonesia shed 0.06 % to 0.68 %.
US stocks gained yesterday, with the Dow Jones Industrial Average extending its record rise, as investors awaited retailer earnings reports to gauge the strength of consumer demand and the likelihood of cuts to monetary stimulus.