Sensex closes 80 points up, on SBI and rupee shows (Lead)

May 18th, 2012 - 6:58 pm ICT by IANS  

State Bank of India Mumbai, May 18 (IANS) A benchmark index for Indian equities market recouped intra-day losses to close over 82 points up Friday. Good buying was seen in banks, FMCG and energy scrips after the country’s largest lender, the State Bank of India (SBI), reported robust earnings for the last quarter of Fiscal 2011-12 and the rupee recovered from record lows.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened below the key 16,000 level at 15,868.07 points in the morning, closed at 16,152.75 points, up 0.51 percent or 82.27 points from its previous close of 16,070.48 points.

The Sensex touched a high of 16,206.35 points and a low of 15,809.71 in intra-day trade. The BSE midcap index declined 15.85 points while the smallcap index declined 14.94 points.

The wider 50-scrip S&P; CNX Nifty of the National Stock Exchange closed 0.44 percent higher at 4,891.45 points.

Buying was seen in banking, FMCG and PSU stocks after State Bank of India posted a massive hike in net profit at Rs.4,050 crore for the quarter ended March 31 against the like period of the previous financial year. The bank closed 5.08 percent up at Rs.1,942.

The Indian rupee too bounced back to 54.56 to a dollar from the record low of 54.89 a dollar.

The banking index was up 1.75 percent or 184,20 points, FMCG index was up 1.14 percent or 53.16, PSU index was up 0.79 percent or 51.87 points.

On the other hand, automobile index fell 1.90 percent or 179.15 points. The capital goods index fell 0.53 percent or 46.48 points while realty index dipped 0.14 percent or 2.15 points.

Sterlite Inds closed up 2.38 percent at Rs.100.95 while ICICI Bank closed 2.26 percent up at Rs.805.05.

Other major Sensex gainers were NTPC, up 2.22 percent at Rs.145.25; Gail India, up 2.12 percent at Rs.317.45; ITC, up 1.85 percent at Rs.239.30; Jindal Steel, up 1.80 percent at Rs.470.30.

Major Sensex losers included Tata Motors, down 4.06 percent at Rs.260.10; Maruti Suzuki, down 3.31 percent at Rs.1,165.10; Bajaj Auto, down 2.63 percent at Rs.1,532.95; BHEL, down 2.09 percent at Rs.201.40; Tata Steel, down 1.48 percent at Rs.399.85.

Early trade was affected by the Asian markets which closed with deep cuts. South Korea was down 3.40 percent and Japan 3 percent.

At the time of closure here, trading in European markets was mixed.

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