BSE Sensex surrenders initial gains, down 11 points

Written by PTI | Mumbai | Updated: Feb 10 2014, 19:52pm hrs
BSE SensexThe National Stock Exchange index Nifty moved up by 12.25 points, or 0.20 per cent, to 6,075.45. Reuters
The BSE Sensex erased initial gains and was quoted lower by 11 points due to fresh selling mainly in FMCG, banking and power stocks.

The BSE Sensex resumed higher at 20,429.16 and firmed up further to a high of 20,434.50 on initial demand on the back of higher global cues.

However, it declined afterwards to 20,336.15 on fresh selling in view of foreign capital flows before quoting at 20,365.32 at 1045 hours, showing a loss of 11.24 points, or 0.06 per cent, from its last weekend's level.

The NSE Nifty also eased by 1.75 points, or 0.03 per cent, to 6,061.45 at 1045 hours.

Major losers were Bharti Airtel 1.82 pct, Hindustan Unilever 1.64 pct, NTPC 1.40 pct, HDFC Bank 1.27 pct and GAIL India 0.91 pct.

However, Bharat Heavy Electricals Ltd (BHEL) firmed up by 1.77 pct, Dr Reddys Laboratories 1.67 pct, Tata Steel 1.50 pct, Sun Pharmaceuticals Industries 1.45 pct and Reliance Industries 1.22 pct.

Foreign institutional investors (FIIs) sold shares worth a net Rs 267.26 crore on last Friday as per the provisional data from the stock exchanges.

Asian stocks rose in their early trade after US jobs data spurred the biggest two-day rally for US equities since October. Key benchmark indices in China, Indonesia, South Korea, Japan, and Taiwan rose 0.05 pct to 1.76 pct; while in Hong Kong and Singapore fell 0.02 pct to 0.09 pct.