Sensex recovers to close 132 points higher

December 13th, 2011 - 6:42 pm ICT by IANS  

Sensex Mumbai, Dec 13 (IANS) Helped by some late buying in heavyweight scrips, a benchmark index for Indian equities Tuesday rose sharply in the last hour of trade and closed 132 points higher and above the 16,000-mark.

The 30-scrip sensitive index (Sensex) of the BSE, which opened at 15,778.62 points, closed at 16,002.51 points, 132.16 points or 0.83 percent up from its previous close at 15,870.35 points.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange also ended higher at 4,800.6 points, up 0.76 percent or 36 points from its previous close.

Investors were, however, worried, with a depreciating rupee set to make imports costlier, especially of oil and adding to inflationary pressures.

The Indian rupee fell to a new low at 53.35 per dollar Tuesday as demand for the green-back from importers and banks rose amid global uncertainty that left investors opting for the US currency.

Broader markets also managed moderate gains with the BSE 500 index closing 0.44 percent up. The BSE midcap and smallcap indices closed in the red.

Metals, energy and healthcare stocks rose, while consumer durables and capital goods companies continued to lose as weak IIP figures showed a dismal performance in October. The coming months too are predicted to be weak for the manufacturing sector.

The market breadth was negative, with 1,105 stocks advancing and 1,620 on the decline. Another 123 were unchanged.

Among gainers on the 30 scrip Sensex were: Jindal Steel, up 4.26 percent at Rs.524.95; M&M;, up 2.38 percent at Rs.700.30; NTPC, up 2.18 percent at Rs.166.70 and RIL, up 2.02 percent at Rs.742.60.

Prominent losers included: L&T;, down 1.94 percent at Rs.1,171.65; ONGC, down 0.82 percent at Rs.255.35; Wipro, down 0.6 percent at Rs.412.05; and ICICI Bank, down 0.33 percent at Rs.705.30.

Asian markets were ruling mixed as credit rating agencies criticised the European Union plan triggering skepticism about a historic European Union plan to fix a massive debt crisis by bringing greater economic cooperation between the member economies.

The Japanese Nikkei closed 1.17 percent down at 8,552.81 points. Hong Kong’s Hang Seng shed 0.69 percent and ended at 18,447.17 points.

The Chinese Shanghai composite index closed 1.87 percent lower at 2,248.59 points.

European markets were ruling dull.

Britain’s FTSE 100 was ruling 0.35 percent up at 5,446.65 points, while the German DAX was trading 0.37 percent higher at 5,807.03 points.

The French CAC 40 was ruling on a flat note.

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