Sensex ends flat, gains 0.98 percent during week (Roundup)

July 23rd, 2010 - 6:57 pm ICT by IANS  

Sensex Mumbai, July 23 (IANS) A benchmark index for Indian equities closed flat in lacklustre trade while the world eagerly waited for the results of the stress test of 91 European banks due later in the day.
The 30-scrip sensitive index (Sensex) of the Bombay stock Exchange (BSE), which opened at 18,132.29 points Friday, closed at 18,130.98 points, 17.83 points or 0.1 percent up from its previous close at 18,113.15 points.

The Sensex gained 0.98 percent during the week. It had closed last week at 17,955.82 points

At the National Stock Exchange(NSE), the broader 50-share S&P CNX Nifty ended at 5,449.1 points, up 0.13 percent from its previous close at 5,441.95 points. The Nifty has closed 1.02 percent higher than its previous weekly closing figure at 5,393.9 points.

Broader markets indices were dragged lower by some late selling. The BSE midcap index closed 0.31 percent down, while the BSE smallcap index 0.54 percent lower.

Telecom, consumer goods and consumer durables stocks gained, while realty, metals scrips came under selling pressure.

The market breadth was negative, with 1,192 scrips advancing, compared to 1,755 stocks declining, and 99 remaining unchanged.

Among the gainers on the Sensex were Bharti Airtel, up 3.86 percent at Rs.313.70; BHEL, up 1.73 percent at Rs.2,460.45; ITC, up 1.04 percent at Rs.300.70; and Infosys, up 0.87 percent at Rs.2,781.85.

The losers included Jaiprakash Associates, down 1.72 percent at Rs.128.60; ONGC, down 1.45 percent at Rs.1,258; DLF, down 1.35 percent at Rs.322.35; and NTPC, down 1.3 percent at Rs.201.80.

Other major Asian markets rose in anticipation of strong US company results.

The Japanese Nikkei shut shop 2.28 percent higher at 9,430.96 points, while the South Korean Kospi ended with a 1.3 percent gain at 1,758.06 points.

Hong Kong’s Hang Seng was up 1.1 percent at 20,815.33 points, and the Chinese Shanghai Composite index closed moderately higher at 2,572.03 points, up 0.38 percent.

European markets were edgy ahead of the bank “stress test” results due Friday amid reports that as many as 10 banks in the zone could fail the tests. However, better than expected earnings results by companies helped stabilise nerves.

The FTSE was trading 0.24 percent lower at 5,301.26 points, while the French CAC 40 was ruling 0.37 percent up at 3,613.83 points.

The German DAX was ruling 0.5 percent higher at 6,172.91 points.

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