Amid FDI debate: Sensex close 30 pts up
In listless trading, the BSE Sensex gained over 30 points at 18,537 today on investor caution amid all-party meet to break the Parliamentary logjam over FDI in multi-brand retail and weak global markets.
Rise in heavyweights such as Infosys, L&T, HUL, Bharti Airtel, Tata Motors, Tata Steel and Wipro supported the rise. However fall in M&M, HDFC Bank and ICICI Bank restricted the surge. Tata Steel gained 1.96 per cent following the announcement to cut 900 jobs at its UK units.
The BSE 30-stock index, Sensex, opened higher and moved in a narrow range of 18,590.33 and 18,508.79 before closing the day at 18,537.01, up 30.44 points of 0.16 per cent.
The NSE 50-share Nifty also moved up 9.30 points or 0.17 per cent to 5,635.90.
Marketmen said the gains were also restricted ahead of the monthly settlement in the derivative contracts this week, besides mixed investor cues from global markets amid plans to finalise a bailout deal for Greece and budgetary impasse in the US. Asian stocks showed a narrowly mixed trend, while European markets were trading lower in the afternoon.
Adjournment of Parliament for the third day without taking any decision on economic reforms also weighed on the market sentiment.
Meanwhile, consensus eluded an all-party meeting called on FDI issue even as Samajwadi Party and BSP provided comfort to the government by not insisting on voting and Trinamool Congress sprang a surprise by speaking in a similar tone.
In the broader market, Jet Airways stock rose amid reports of talks between the airline and UAE's
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