Sensex pulls back into green amid volatile trading (Roundup)

June 2nd, 2009 - 6:27 pm ICT by IANS  

Sensex Mumbai, June 2 (IANS) A key index of the Indian equities markets pulled back 34 points into the green at close Tuesday after profit booking pushed it well into the red for most parts of a volatile day’s trade.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 14,892.93 points, ended at 14,874.91 points - 34.28 points or 0.23 percent above Monday’s close.

Though the S&P CNX Nifty of the National Stock Exchange (NSE) followed the Sensex, it couldn’t manage to rise above its last closing figure, ending trade at 4,526.5 points, a marginal loss of 0.08 percent.

Broader market indices did better, with the BSE midcap index gaining 0.82 percent and the BSE smallcap index ending 0.91 percent up.

The Sensex touched an intra-day high of 14,994.31 points and a low of 14,608.23.

Of the 13 sectoral indices on the BSE, the index for consumer durables, metal and auto stocks were among the gainers, while realty and power stocks came under selling pressure.

There were six gainers on the Sensex, prominent among them being Tata Steel, up 8.24 percent at Rs.474.05; HDFC, up 4.19 percent at Rs.2,394.95; Sterlite, up 3.87 percent at Rs.690.50; and Tata Motors, up 3.31 percent at Rs.349.15.

Losers included ACC, down 5.83 percent at Rs.784.50; Ranbaxy, down 4.5 percent at Rs.262.25; Reliance Infra, down 4.34 percent at Rs.1,244.45; and Tata Power, down 3.36 percent at Rs.1,049.40.

The overall market breadth was positive, with 1,664 scrips advancing, 1,130 declining and 56 remaining unchanged.

Data with the market watchdog, Securities and Exchange Board of India (SEBI), showed foreign funds bought shares worth $131.5 million Tuesday.

The NSE’s Volatility Index - a measure of the market’s expectation of volatility over the short term - stood at 41.83 points as of Monday, higher than the 35-point mark that indicates risk.

Global bourses were overall trading weak, with Asian markets ending mixed and European equities looking weak.

The Nikkei, a key index of Tokyo markets, managed to close in the green after dipping towards closing bell. It closed at 9,704.31 points, 26.55 points up from its previous close.

The Hang Seng, the primary index of the Hong Kong Stock Exchange, fell 499.51 points to 18,389.08 points.

Weak sentiments prevailed at European markets with the FTSE in Britain trading 31.71 points lower at 4,474.48 points, and its French peer CAC 40 ruling 5.29 points down at 3,374.2 points.

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