Sensex snaps seven-day losing streak, ends 23 points up

Sensex closed 0.12 per cent higher on Tuesday on buying by funds mainly in consumer durables and FMGC stocks.

Published: 26th March 2013 09:46 AM  |   Last Updated: 26th March 2013 04:59 PM   |  A+A-

Sensex1_PTI
By PTI

The BSE benchmark Sensex today snapped a seven-day losing streak by rising 23 points on buying by funds mainly in consumer durables and FMGC stocks ahead of monthly expiry in the derivatives segment amid a firming European trend.

The Sensex closed 23.11 points up, or 0.12 per cent, to close at 18,704.53. The index moved between 18,758.88 and 18,612.37 points. The gauge had lost 890 points in last seven trading sessions.

Similarly, the broad-based National Stock Exchange index Nifty rose by 7.75 points, or 0.14 per cent, to 5,641.60, after moving between 5,655.30 and 5,612.05.

Brokers said trading sentiments improved on investors covering their pending long positions created in last seven sessions of losses before the settlement in derivatives segment on Thursday and some winding up their positions on ending of the current financial year.

They said the market received another boost on reports of higher opening in Europe before US data that may show durable-goods orders increased and new-house sales held close to a four-year high last month.

Confidence among global investors also received booster after the government approved six FDI proposals, including that of AirAsia Investment, Malaysia, totalling over Rs 732 crore.

The market will remain closed on Wednesday and Friday on account of Holi and Good Friday, respectively.

In 30-BSE index components, 15 stocks closed higher led by Hindustan Unilever, ITC Ltd, Infosys, ICICI Bank, HDFC Bank, HDFC Bank, Bharti Airtel and Coal India.

However, the most heavy on the benchmark Reliance Industries tumbled by 3.25 per cent to Rs 783.40, Hero MotoCorp by 2.69 per cent to Rs 1,572.50, Larsen and Toubro by 2.24 per cent to Rs 1,337 and BHEL by 1.76 per cent to Rs 176.30.

The stock of Hindalco remained unchanged at Rs 88 in limited deals.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp