Sensex gains after sharp sell-sff, ends 155 points up

Thursday, March 31, 2011
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Mumbai: A benchmark index for Indian equities markets Thursday managed to close 155 points higher, moving up after a late sell-off. Broader market indices, too, pared intra-day losses to close in the green. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,339.75 points, closed at 19,445.22 points, up 155.04 points or 0.8 percent from its previous close at 19,290.18 points. The 50-scrip S&P CNX Nifty of the National Stock Exchange shut shop 0.8 percent higher at 5,833.75 points. Broader markets too managed to shrug off intra-day losses, with the BSE midcap index ending 0.29 percent up and the BSE small cap index closing 0.21 percent higher. Consumer durables, FMCG and energy stocks rose while banking and healthcare scrips ended among losses. The market breadth was mixed, with 1,444 stocks advancing compared to 1,412 scrips on the decline. Ninty-five stocks remained unchanged. Among the major gainers on the Sensex were Bajaj Auto, up 2.9 percent at Rs.1,459.80; ONGC, up 2.76 percent at Rs.290.10; TCS, up 2.71 percent at Rs.1,182.50; and Hindustan Unilever, up 2.5 percent at Rs.284.60. The losers included: SBI, down 3.19 percent at Rs.2,767.90; Cipla, down 2.01 percent at Rs.321.05; RCom, down 2 percent at Rs.107.70 and M&M, down 1.61 percent at Rs.698.60. According to data available with the Securities and Exchange Board of India, foreign institutional investors bought stocks worth $233.08 million Thursday. Asian markets ended a mixed bag with investors cautious ahead of the release of the weekly US employment data. Chinese stocks ended lower as traders were concerned about further monetary tightening by the Chinese central bank. The Japanese Nikkei average closed 0.48 percent up at 9,755.1 points. Hong Kong's Hang Seng moved up 0.32 percent at 23,527.52 points. However, China's Shanghai Composite was shed 0.94 percent lower at 2,928.11 points. European stocks were in a slump around mid-day ahead of the Irish banking stress test results. Around mid-day, the French CAC 40 was trading 0.38 percent lower at 4,008.99 points, while Britain's FTSE was ruling 0.18 percent down at 5,937.85 points. The German DAX was ruling flat.
Source: IANS
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