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BSE Sensex advances by 46 pts as rate sensitive stocks post gains

Jan 21 2014, 16:39 IST
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BSE benchmark Sensex rises 46.07 points to end the day at 21,251.12 BSE benchmark Sensex rises 46.07 points to end the day at 21,251.12
SummaryEven as BSE Sensex closed in green, bank shares led the gains ahead of RBI meet.

The BSE Sensex rose further by 46 points on sustained buying by funds in bluechips led by banks ahead of the RBI monetary policy meet amid a firming global trend.

The 30-share index BSE Sensex, which had gained 142 points in the previous session, advanced by 46.07 points, or 0.22 per cent, to close at 21,251.12 points. It touched a day's high of 21,302.52 points.

The broad-based NSE Nifty rose by 9.85 points, or 0.16 per cent, to 6,313.80 points.

Markets Top Gainers, Markets Top Losers

Brokers said market sentiment improved after government decided to sell stake in Hindustan Zinc Ltd which might narrow down budget deficit.

Shares of Hindustan Zinc rose 0.15 per cent to Rs 135.20 after the Cabinet Committee on Economic Affairs approved the sale of the government's residual stake.

They said the upsurge was backed by banking and interest rate sensitive stocks on expectations that RBI may keep its policy rates unchanged in its review meeting on January 28 as headline inflation has receded.

A firming trend in global stock markets also influenced the market sentiment to some extent, they added.

Among 30 BSE Sensex components, 15 stocks closed with gains.

The banking sector index gained the most rising by 1.55 per cent to 12,769.51, followed by the auto index which rose by 1.03 per cent to 12,239.74. Metal index rose by 0.77 per cent to 9,732.54 and capital goods index by 0.64 per cent to 9,761.91.

BSE Sensex ends higher, Tata Motors, ICICI Bank share prices extend gains

(Reuters) Indian shares edged up on Tuesday as interest rate-sensitive companies such as Tata Motors and ICICI Bank extended recent gains amid rising expectations that the central bank will keep monetary policy unchanged next week.

Engineering giant Larsen & Toubro Ltd rose ahead of its earnings on Wednesday as investors remain focused on results, while Hindustan Zinc Ltd gained after the government approved a sale of its stake in the company.

However, broader gains were limited as investors booked profits in recently rallying software services exporters such as Tata Consultancy Services Ltd.

"Markets are likely to trade rangebound and stock-specific with a positive bias. Inflation is under control and we expect positive steps from the central bank," said Suresh Parmar, head, institutional equities at KJMC Capital Markets.

"Banking stocks will continue to do well while other interest-specific sectors such as auto and real estate would also see some buying

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