Thaindian News

Mumbai, June 14 (IANS) A benchmark index for Indian equities markets closed Tuesday with marginal gains on a range bound trading day with investors waiting cautiously for the mid-quarter review of the monetary policy by the Reserve Bank of India (RBI).

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,276.78 points, closed at 18,308.66 points, up 42.63 points or 0.23 percent from its previous close at 18,266.03 points.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange also closed in the green at 5,500.5 points, up 0.32 percent.

Traders largely side-stepped latest inflation figures, which showed that the wholesale price index had risen 9.06 percent in May, and were watching if the Reserve Bank of India, the country’s central bank, would react to high inflation and go in for another round of hike in key interest rates on June 16.

Broader markets had moderate gains, with the BSE midcap index closing 0.6 percent up and the BSE smallcap index 0.37 percent up.

The market breadth was positive with 1,625 stocks advancing, 1,204 on the decline and 135 remaining unchanged.

Among gainers on the 30-scrip Sensex were: Reliance Infra, up 2.35 percent at Rs.555.50; Bajaj Auto, up 2.26 percent at Rs.1,372.45; Jindal Steel, up 1.97 percent at Rs.643.40; and ICICI Bank, up 1.52 percent at Rs.1,055.20.

The losers were Tata Motors, down 2.84 percent at Rs.984; Hindalco, down 2 percent at Rs.176.75; HDFC, down 1.42 percent at Rs.648.15; and RIL, down 1.41 percent at Rs.913.55.

According to data available with the Securities and Exchange Board of India, foreign institutional investors sold scrips worth $26.08 million Tuesday.

Global markets rose after latest data from China showed that inflation had risen as per forecasts and industrial output had strengthened. A couple of big ticket acquisitions in the US too helped boost traders’ confidence as the deals signified a confidence in the country’s economy.

Asian markets ended mixed.

The Nikkei of the Japanese stock exchange closed 1.05 percent lower at 9,547.79 points, while the Hang Seng of the Hong Kong stock exchange ended flat at 22,496 points.

Reflecting the positive economic data, the Chinese Shanghai composite index moved up 1.1 percent to close at 2,730.04 points.

European markets were ruling in the green.

Britain’s FTSE was ruling 0.24 percent up at 5,787.26 points.

Around midday, the French CAC 40 was trading 0.85 percent higher at 3,840.13 poins, while the German DAX was up 1.44 percent at 7,186.97 points.