STOCK MARKET BSE NSE

Sensex Rebounds 87 Points as Metal, IT, Banking Shares Rise

Sensex today recovered by nearly 87 points to end at 26,384.07 boosted by fag-end buying in metal, banking, IT shares coupled with positive European cues.

Published: 13th October 2014 04:37 PM  |   Last Updated: 13th October 2014 04:37 PM   |  A+A-

Sensex1_PTI

| PTI file photo

By PTI

MUMBAI: The benchmark Sensex today recovered by nearly 87 points to end at 26,384.07 boosted by fag-end buying in metal, banking, IT shares coupled with positive European cues.

The BSE Sensex resumed lower at 26,275.07 and then fell further to a two-month low of 26,092.69 on initial selling in key sectors as India's industrial production growth remained subdued in August. Worries over foreign capital outflows and sharp fall in US markets last Friday also weighed.

However, the index recovered afterwards to 26,443.16 before concluding the day at 26,384.07, showing a gain of 86.69 pts or 0.33 per cent. Better-than-expected Chinese trade data and crude oil prices falling to near 4-year lows also provided some support.

The Sensex had lost 339.90 points, or 1.28 per cent, last Friday on profit-booking and Eurozone growth worries.

Like the Sensex, the NSE 50-share Nifty gained 24.30 points, or 0.31 per cent, to finish at 7,884.25.

"Volumes continued to falter and remained lower than Friday's trading session. PSU Banks, Metal and Energy stocks remained the top performing sectors while Realty, Pharma and FMCG faced the maximum selling pressure in the day," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio.

Market participants are eyeing monthly Consumer Price Index (CPI) data and quaterly earnings of Reliance Industries.

These are expected to set the tone for trading tomorrow.

Most Asian stocks ended lower as concerns about global economic growth remained. Key benchmark indices in China, Singapore, Taiwan and South Korea fell 0.36-2.84 per

cent while the barometer in Hong Kong inched up 0.24 per cent.

Meanwhile, European makets witnessed a strong rebound and were trading positively with France, Germany and UK indices moving up 0.05 per cent to 0.48 per cent.

Locally, Foreign Portfolio investors (FPIs) sold shares worth net Rs 719.77 crore last Friday as per the provisional data from stock exchanges.



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