Sensex reverses losses, closes 107 points higher (Roundup)

February 1st, 2012 - 6:37 pm ICT by IANS  

Sensex Mumbai, Feb 1 (IANS) A benchmark index for Indian equities managed to pare intra-day losses and put up modest gains Wednesday helped by positive cues from European markets. Buying was seen in metal and capital goods stocks.

The 30-scrip sensitive index (Sensex) of the BSE, which opened at 17,179.64 points, closed at 17,300.58 points, 107.03 points or 0.62 percent up from its previous close at 17,193.55 points.

The Sensex was trading lacklustre for most part of the day and fell to an intra-day low of 17,061.55 points.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange also picked up after a weak start and closed in the green at 5,235.7 points, up 36.45 points or 0.7 percent from its previous close.

Broader markets also rose with the BSE 500 index closing 0.85 percent higher from its previous close.

Indian markets have put a good show till now. In January the Sensex gained 1,738.63 points or 11.24 percent, compared to the previous month’s closing.

Metals, auto and realty stocks were among the biggest gainers while consumer durables scrips saw selling.

Prominent gainers on the 30-scrip Sensex included Jindal Steel, up 6.43 percent at Rs.577.15; Tata Power, up 6.02 percent at Rs.110.10; Tata Steel, up 4.11 percent at Rs.469.55 and Hero MotoCorp, up 3.45 percent at Rs.1,928.25.

Among the losers on the benchmark were Coal India, down 2.61 percent at Rs.317.15; ICICI Bank, down 1.53 percent at Rs.888.20; ONGC, down 1.32 percent at Rs.272.20 and HDFC, down 1.28 percent at Rs.687.80.

The market breadth was positive with 1,868 stocks advancing, 980 on the decline and 113 unchanged.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought stocks worth $129.83 million Wednesday. FIIs have pumped in $2.03 billion in January.

Asian markets ended mixed as traders awaited China’s decision on easing interest rates.

The Japanese Nikkei closed flat at 8,809.79 points, while Hong Kong’s Hang Seng shed 0.28 percent to end at 20,333.37 points.

The Chinese Shanghai Composite index moved down 1.07 percent and closed at 2,268.08 points.

European markets were ruling in the green with investors taking hope from latest data which showed factory output in the Euro zone not slowing as much as expected.

Britain’s FTSE 100 was ruling 1.38 percent up at 5,760.27 points. The German DAX was similarly trading 1.93 percent higher at 6,583.71 points.

The French CAC 40 was trading 1.51 percent higher at 3,348.2 points.

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