Mid, smallcap scrips drive Sensex recovery (Roundup)

June 24th, 2009 - 6:58 pm ICT by IANS  

Sensex Mumbai, June 24 (IANS) A key index of the Indian equities markets bounced back Wednesday owing to buying interest in power, capital goods and healthcare stocks. The index, which was flat in earlier sessions shut shop 98 points higher than its previous close.
The benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened at 14,376.82 points, ended trade at 14,422.73 points - 98.72 points or 0.69 percent lower than Tuesday’s close.

Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) ended the day 1.08 percent up at 4,292.95 points.

Broader market indices did much better, with the BSE midcap index ending 2.38 percent up, while the BSE smallcap index closed 2.26 percent higher than its previous close.

The index for banking stocks was the sole loser among the 13 sectoral indices on the BSE, while power, capital goods and healthcare stocks ended at the top.

The market breadth was positive, with 1,799 stocks advancing compared to 799 declining, while 71 scrips remained unchanged.

Among the gainers on the 30 scrip composite Sensex were Jaiprakash Associates, up 6.01 percent at Rs.213.40; Sun Pharma, up 5 percent at Rs.1,345.15; TCS, up 4.33 percent at Rs.382.05; and Tata Motors, up 4.2 percent at Rs.357.

Of the losers on the Sensex were HDFC Bank, down 1.97 percent at Rs.1,456.35; its parent HDFC, down 1.96 percent at Rs.2,309.25; ICICI Bank, down 1.16 percent at Rs.689.35; and Sterlite, down 1 percent at Rs.571.45.

With the futures and options contracts expiring Thursday, trading volumes saw an increase.

The total traded turnover stood at Rs.106,553.99 crore as against Rs.109,543.28 crore on Tuesday. This included Rs.17,909.77 crore from the NSE cash segment, Rs.82,940.03 crore from NSE futures and options, and the balance Rs.5,704.19 crore from the BSE cash segment.

Data with the market watchdog Securities and Exchange Board of India (SEBI) showed that foreign funds had sold shares worth $134.6 million Wednesday.

Other Asian markets were also in the green, with the Nikkei 225 Stock Average, a key index of the Tokyo stock exchange, rising 40.71 points to end Wednesday’s trade at 9,590.32 points.

The Hang Seng, a primary index of the Hong Kong stock exchange, was similarly up and ruling at 17,771.75 points, an increase of 233.38 points over its previous close.

European markets were trading in the green, with the FTSE, a key British index, ruling marginally up 6.79 points to 4,236.03.

Its French peer, CAC 40, was ruling marginally up at 3,137.51 points, an increase of 20.69 points.

Ahead of the interest rate decision by the Federal Reserve, US markets were expected to open a bit stronger Wednesday, with futures for the Dow Jones, Standard and Poor’s 500 and the technology-heavy Nasdaq indices ruling 0.2-0.3 percent higher.

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |

Subscribe