Sensex rises 285 points, snaps four-day fall (Roundup)

February 28th, 2012 - 7:39 pm ICT by IANS  

Sensex Mumbai, Feb 28 (IANS) A benchmark index for Indian markets Tuesday closed 285 points higher as traders picked up scrips that were battered in the last four days.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,545.11 points, closed at 17,731.12 points, 285.37 points or 1.64 percent up from its previous close at 17,445.75 points.

The Sensex had closed 477 points lower Monday.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange also ended higher at 5,375.5 points, up 94.3 points or 1.79 percent from its previous close.

Broader markets were also in the green, with the BSE 500 index closing 2.29 percent higher. The BSE midcap index was up 3.4 percent while the BSE smallcap index rose 2.78 percent higher.

The market breadth was positive as 2,139 stocks advanced, 765 declined and 116 stayed unchanged.

Among the sectoral indices on the BSE, those battered Monday rose. Realty, capital goods, banking and power stocks were among major gainers. IT scrips, however, saw some selling.

Overseas funds, which have been the main catalyst for the dramatic rise in Indian equities in 2012, were net sellers in equities for the first time in almost a month.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors (FIIs) sold stocks worth $110.6 million Tuesday.

FIIs have put in close to $7 billion since the start of the year, having bought equities worth $2.03 billion in January and $4.95 billion till Feb 28.

The gainers on the Sensex were BHEL, up 6.74 percent at Rs.308.65; Hindalco, up 4.97 percent at Rs.146.80; SBI, up 4.92 percent at Rs.2,229.55; and RIL, up 1.9 percent at Rs.796.05.

Major losers included TCS, down 1.8 percent at Rs.1,227.20; Wipro, down 0.93 percent at Rs.420.30; ITC, down 0.8 percent at Rs.210.60; and NTPC, down 0.36 percent at Rs.180.05.

Asian markets saw some gains as oil prices showed some signs of softening, with Brent crude falling to below $124 a barrel (159 litres).

The Japanese Nikkei moved up 0.92 percent to end at 9,722.52 points, while Hong Kong’s Hang Seng closed 1.65 percent higher at 21,568.73 points.

The Chinese Shanghai Composite index moved up 0.2 percent at 2,451.86 points.

European markets were trading quiet.

Britain’s FTSE 100 was trading 0.14 percent higher at 5,923.55 points. The German DAX was trading 0.38 percent up at 6,875.36 points.

The French CAC 40 was up 0.37 percent at 3,454.25 points.

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