BSE Sensex erases losses to end 35 pts higher, Dr Reddy's Labs, Sun Pharma major gainers

Written by Agencies | Mumbai | Updated: Mar 19 2014, 20:26pm hrs
BSE SensexMarketmen said BSE Sensex recovered in the last one-hour on value buying in blue-chips available at attractive levels. (Reuters)
The BSE Sensex today erased initial losses to end higher by 35 points at 21,809.80 on fag-end value buying by funds in blue-chip stocks, mainly in capital goods and realty sectors, amid inflation softening to nine-month low of 4.68 per cent in February.

Markets Top Gainers, Markets Top Losers

After losing 144 points in early trade, the Sensex bounced back to close higher by 35.19 points, or 0.16 per cent, at 21,809.80. It had lost 81.61 points in the previous session.

The National Stock Exchange index Nifty improved by 11.10 points, or 0.17 per cent, to 6,504.20, after touching a low of 6,432.70.

Marketmen said stocks recovered in the last one-hour on value buying in blue-chips available at attractive levels.

The upsurge was supported by reports that the inflation fell to nine-month low of 4.68 per cent in February, raising hopes that RBI will cut interest rate.

In 30-BSE index components, 15 stocks gained and 14 ended with losses. Tata Power held steady at Rs 83.15.

Major gainers were Dr Reddy's Labs, Sun Pharma, Reliance Industries, Hero MotoCorp, Infosys, Larsen and Toubro, Mahindra and Mahindra, BHEL and Cipla.

The capital goods sector index gained the most by rising 1.85 per cent to 11,609.65 followed by realty sector by one per cent to 1,387.68.

Auto index rose by 0.94 per cent to 12,808.16 and healthcaare by 0.81 per cent to 10,196.57.

BSE Sensex edges higher, Larsen & Toubro shares gain

(Reuters) BSE Sensex provisionally edged higher on Friday as continued strong foreign buying boosted blue-chips such as Larsen & Toubro (L&T), although some caution also set in about the pace of recent gains.

Markets Top Gainers, Markets Top Losers

Both the BSE and NSE indexes posted mild losses for the week, snapping a three-week winning streak as investors also booked profits in some recent gainers.

The benchmark BSE Sensex index provisionally rose 0.1 percent to 21,797.16 points, while the broader NSE Nifty index provisionally rose 0.17 percent to 6,504.20 points.

Dipen Shah, Head- Private Client Group Research, Kotak Securities:

Markets reversed the trend and ended with marginal gains on Friday. For the week, benchmark indices closed largely unchanged. While banks, Capital Goods, Realty, etc did well, IT and Metals were the under-performers. The earnings warning by Infosys marred sentiments for the IT sector.

Outlook: Going ahead, the referendum in Ukraine will be the immediate event to watch out for. Any escalation in tensions may impact global markets. Beyond that, the RBI policy meeting will be watched for any cues on future interest rate movements. Further, the early phases of elections and quarterly results from companies will be the important events for the markets. We believe that, markets will be largely driven by the political developments. A firm trend for the markets will be established only after the election results are declared. Till that time, we do expect the markets to remain volatile.

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