BSE Sensex closes 21 points higher, Infosys share price down over 2 pct

Dec 23 2013, 21:36 IST
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BSE Sensex ends 21.31 points higher at 21,101.03. (AP) BSE Sensex ends 21.31 points higher at 21,101.03. (AP)
SummaryA fall in Infosys share price capped broader gains in BSE Sensex and NSE Nifty.

After rising nearly 130 points, the benchmark BSE Sensex today closed with a slender gain of 21.31 points on late selling in bluechips including Infosys Ltd, HDFC Bank and Tata Consultancy Services (TCS) despite a firm trend in the global markets.

Markets Top Gainers, Markets Top Losers

In volatile trade, the BSE Sensex rose to day's high of 21,207.89 but frittered away most gains to end at 21,101.03, a rise of 21.31 points, or 0.10 per cent. The gauge had surged 371.10 points on Friday.

Twenty one constituents, including ITC Ltd, ICICI Bank and Oil & Natural Gas Corp (ONGC), rose in the 30-share index. However, Infosys that fell 2.3 per cent, HDFC Bank (1.2 per cent down) and TCS (0.5 per cent down) accounted for nearly 90-point drop in BSE Sensex.

Brokers said apart from profit-booking at higher levels, RBI Governor Raghuram Rajan's comment that nobody should doubt the central bank's desire to fight inflation, also led to selling.

The 50-share NSE index Nifty closed 10.25 points up, or 0.16 per cent, at 6,284.50. Also, SX40 index, the flagship index of MCX-SX, closed 33.67 points up at 12,559.21.

Sectorally, the BSE Realty sector index gained the most today by rising 3.16 per cent, followed by Metal index (1.52 per cent), Capital goods index (1.30 per cent) and Power index (0.93 per cent).

However, BSE IT and TECK fell. "Infosys saw a sentimental impact after the company announced the exit another senior management personnel. IT stocks are trading in overbought zone and a correction in the near term can't be ruled out," said Milan Bavishi, Head Research, Inventure Growth and Securities.

In broader markets, United Spirits fell over 3 per cent after after a court last week ordered the annulment of sale of United Breweries Holdings' (UBHL) stake in United Spirits to Diageo.

Globally, major Asian markets closed higher. European indices were also trading higher in early trades.

Gaurang Shah, Assistant Vice President, Geojit BNP Paribas Financial Services Ltd:

Markets continued their upward move for the large part of the day following the Fridayís closing. Profit booking however was visible on both the indices. We expect the volatility on the markets to pick up as we enter the F&O expiry on Thursday 26th Dec.

The markets managed to move beyond 21,200 on the Sensex &

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