BSE Sensex gains 63 pts to close at 1-week high, Reliance Industries, ITC, ICICI Bank gain

May 06 2014, 17:26 IST
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BSE Sensex closed 0.28 pct higher, while the broader NSE Nifty gained 0.24 pct. Reuters BSE Sensex closed 0.28 pct higher, while the broader NSE Nifty gained 0.24 pct. Reuters
SummaryBSE Sensex had risen by 158 pts to a high of 22,602.71 in early trade.

The BSE Sensex today advanced by 63 points to close at one-week high as bluechips led by Reliance Industries (RIL), ITC and ICICI Bank gained on sustained buying by funds and retail investors.

The 30-share index had risen by 158 points to a high of 22,602.71 in early trade as FIIs continued to invest in Indian equity markets.

However, profit booking in some counters trimmed some of the gains and the barometer closed up by 63.30 points, or 0.28 per cent, at 22,508.42 points, a closing level not seen after April 28. The index gained 41.23 points in the last session.

The National Stock Exchange's index Nifty advanced by 15.95 points, or 0.24 per cent, to 6,715.30, after shuttling between 6,743.45 and 6,701.90 in day trade.

Brokers said foreign institutional investors (FIIs) continued to show optimism in the Indian stock market and pumped in more funds, boosting sentiment here.

FIIs bought shares worth a net Rs 279.86 crore yesterday as per provisional data from the stock exchanges.

They said encouraging fourth quarterly earnings by some more companies also triggered buying activity.

Among Sensex stocks, Reliance Industries was the biggest gainer rising by 1.91 per cent, while Oil & Natural Gas Corp (ONGC) ended 0.45 per cent. ICICI Bank jumped 1.63 per cent, FMCG major ITC surged 1.06 per cent, Larsen and Toubro by 1.24 per cent and Mahindra and Mahindra by 0.55 per cent.

Tata Motors rose by 0.98 per cent, Tata Steel by 0.89 per cent and Maruti Suzuki by 0.61 per cent.

On the other hand, Hero Motocorp, Bajaj Auto, Infosys, TCS, Wipro, Tata Power, Hindalco and Bharti Airtel were among the major losers with losses of up to 2.10 per cent.

In 30-BSE index components, 14 stocks gained, 15 ended lower while NTPC remained steady at Rs 114.

The consumer durables index gained the most by rising 3.22 per cent to 6,793.61 followed by oil and gas by 1.10 per cent to 9,804.20. Capital goods sector index by 0.99 per cent to 12,129.67, Banking index by 0.54 per cent to 14,829.50 and FMCG index by 0.46 per cent 6,821.68.

BSE Sensex hits 1-wk closing high; Reliance Industries rises

(Reuters) BSE Sensex rose for a second consecutive session on Tuesday to its highest close in a week as blue-chips such as Reliance Industries gained after foreign investors snapped a five-day selling streak in index

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