Sensex 117 points up, snaps out of four-day losing spree (Roundup)

August 1st, 2011 - 7:05 pm ICT by IANS  

Sensex Mumbai, Aug 1 (IANS) Snapping a four-day losing spree, a benchmark index for Indian equities Monday closed 117 points higher, helped by positive global cues.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 18,352.23 points and closed at 18,314.33 points — up 117.13 points or 0.64 percent from its previous close at 18,197.2 points.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange also ended in the green at 5,516.8 points, up 0.63 percent.

Broader markets, however, ended on lacklustre. The BSE midcap index closed 0.02 percent down and the BSE smallcap index ended 0.26 percent lower.

Metals stocks were among the major losing scrips. Weakness was also seen in consumer durable scrips.

The market breadth was negative with 1,204 stocks advancing, 1,646 scrips declining and 125 remaining unchanged.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors sold stocks worth $140.17 million Monday.

Among gainers on the 30-scrip Sensex: L&T;, up 2.14 percent at Rs.1,762.90; Jaiprakash Associates, up 1.8 percent at Rs.67.90; ONGC, up 1.73 percent at Rs.273.30; and Bajaj Auto, up 1.72 percent at Rs.1,490.

The losers on the benchmark were: Jindal Steel, down 2.26 percent at Rs.573.10; Sterlite Industries, down 1.28 percent at Rs.157.85; BHEL, down 0.73 percent at Rs.1,824.95; and Cipla, down 0.42 percent at Rs.306.55.

Asian markets rose in a relief rally after US lawmakers reached an eleventh hour agreement to raise the $14.3 trillion federal debt limit in two stages by as much as $2.4 trillion to avoid a catastrophic US government default.

The Japanese Nikkei Monday closed 1.34 percent higher at 9,965.01 points.

The Hang Seng of the Hong Kong stock exchange rose 0.99 percent to close at 22,663.37 points, while the Chinese Shanghai composite index ended flat at 2,703.78 points.

European bourses too were ruling in the positive, buoyed by the deal by US law makers.

Britain’s FTSE 100 was ruling 1.44 percent up at 5,898.85 points, and the French CAC 40 was ruling 0.66 percent higher at 3,700.47 points.

The German DAX was 0.66 percent up at 7,206 points.

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