BSE Sensex shares edge higher, after hitting lowest 2013 point on Friday

Feb 18 2013, 17:40 IST
Comments 0
Under-performers such as Larsen & Toubro rose, while DLF gained on an executive byte. (Reuters) Under-performers such as Larsen & Toubro rose, while DLF gained on an executive byte. (Reuters)
SummaryUnder-performers such as Larsen & Toubro rose, while DLF gained on an executive byte.

The BSE benchmark Sensex today rebounded from the calendar year's lowest levels to close 33 points up at 19,501.08 on the back of buying in HDFC, Larsen & Toubro, HUL and SBI shares.

After two days of losses, the 30-share index touched an intra-day low of 19,462.92 but then progressed upwards to end at 19,501.08 -- a gain of 32.93 points, or 0.17 per cent.

Brokers said trading remained cautious ahead of Budget this month-end and reduced positions to pick up fundamentally strong scrips. While Tata Steel led 17 gainers in Sensex with 2.49 per cent rise, HDFC, L&T and HUL closed up in 1.5-1.9 per cent range. SBI, Bhel, Sterlite and Hero Moto also closed up.

"As we move towards Budget, investors might remain on sidelines to see the outcome and then decide the future course," said Nagji K Rita,CMD, Inventure Growth & Securities.

RIL gained after Telecom Commission approved provision for companies holding internet services licences with spectrum like Reliance Jio Infocomm (RJI) to provide phone call service by paying additional fee of Rs 1,658 crore each.

Outside the benchmark indices, Jet Airways plunged 7.7 per cent amid reports Etihad may revise a deal to buy stake.

Sugar scrips like EID Parry, Shree Renuka and Bajaj Hindusthan gained 4-6 per cent on hopes sector deregulation soon.

DLF gained 5 per cent fter recent losses post-earnings.

Experts said gains were capped to some extent due to late profit booking, Moody's warning on India's widening trade deficit and tepid activity in global markets.

Sectorally, the Realty sector index gained the most at 2.08 per cent, followed by Capital Goods at 1.18 per cent, Power index at 1.03 per cent and Metal index at 0.49 per cent.

The NSE 50-share Nifty also moved up by 10.80 points or 0.18 per cent to finish at 5,898.20. "A move past 5,920 could provide sustainable recovery," said Amar Ambani, Head of Research, IIFL.

Foreign institutional investors (FIIs) bought shares worth a net Rs 247.30 crore on last Friday, as per provisional data from the stock exchanges.

Globally, barring Hang Seng, which eased by 0.27 per cent, other indices closed up with yen's downtrend boosting Japanese stocks. Indices in Japan, Shanghai, Singpaore, Korea and Taiwan ended higher by 0.04-2.05 per cent today.

However, Europe showed a mixed trend. Benchmark indices in France and London eased by 0.02 per cent to 0.35 per cent while Germany's DAX was last quoting 0.18 per cent up.

Turning the Indian market,

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...