After rising 162 points in early trade, the BSE benchmark Sensex today surrendered most of the gains on profit selling in Bajaj Auto,
SBI, Sterlite and Tata Steel shares but still managed to close 47 points up at one-week high of 19,608.08.
The Bombay Stock Exchange 30-share indicator initially touched a high of 19,723.01, up by over 161.97 points. However, the index pared gains after weakness crept in banks, real estate and metal stocks to finally settle at 19,608.08, a rise of 47.04 points or 0.24 per cent.
Yesterday, it had risen by 100.47 points or 0.52 percent.
On the gainers side, Tata Motors closed 2.11 per cent higher on the back of strong volume numbers from
JLR. HDFC, M&M, TCS and Infosys gained in the 1.2-1.8 per cent range.
"Stocks fell in the second half of trading day as it faced selling pressure at higher levels. European indices opened mixed and also put pressure on market sentiment," said Nidhi
Sarswat, Senior Research Analyst, Bonanza Portfolio Ltd.
The market is now looking forward towards tomorrow's inflation (WPI) figures for further cues, traders said.
Outside the broader benchmark indices, Unitech closed flat after witnessing a sharp plunge yesterday. Kingfisher Airlines closed 5 per cent lower after lenders decided to start the process of recovering Rs 7,500 crore loans.
Power, metal, realty and capital good shares saw heavy buying. Sectorally, the IT sector gained the most by rising 1.29 per cent, followed by teck index up 0.98 per cent, auto sector index 0.26 per cent and oil&gas index by 0.12 per cent.
Brokers said tthe broader market continued to remain negative with second-line stocks attracting profit-booking by retail investors ahead of the Budget.
Asian stocks markets ended higher as earnings from Commonwealth Bank of Australia and CSL Ltd which boosted investor optimism. Key benchmark indices in Singapore and South Korea rose by 0.94-1.56 per cent while Japan's Nikkei Average fell 1.04 per cent.
Moving to the local market, 17 scrips out of the 30-share sensex pack declined while 13 finished with gains. Major gainers were HDFC (1.79 pc), M&M (1.59 pc), TCS (1.58 pc), Infosys (1.26 c), ICICI Bank (1.19 pc), Bharti Airtel (1.18 pc) and ONGC (1.08 pc).
However, Sterlite Ind (2.79 pc), followed by Bajaj Auto (2.75 pc), Tata Power (2.68 pc), Tata Steel (2.18 pc), Gail India (1.96 pc), SBI (1.83 pc), Hindalco (1.82 pc), BHEL (1.53 pc), Maruti Suzuki (1.48 pc), HUL (1.26 pc) and Cipla (1.22 pc) were among major Sensex losers.
Among the sectoral indices, the BSE-IT rose by 1.29 per cent and BSE-Teck 0.98 per cent, while
BSE-Power fell by 1.56 per cent, BSE-Metal 1.25 per cent, BSE-Realty 1.15 per cent and
BSE-CG 0.89 per cent.
The market breadth continued to show negative trend as 1,229 scrips ended lower, while 892 stocks finished higher and 852 ruled steady. The total turnover improved to Rs 2,041.36 crore from Rs 1,971.57 crore yesterday.
Foreign institutional investors FIIs) seemed to have slowed their buying as they picked up shares worth Rs 1.70 crore yesterday as per SEBI data.
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