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Global cues, value buying buoy equity indices (Roundup)

Mumbai, Aug 22 (IANS) After two consecutive sessions of losses, the two key indices of the Indian equity markets — NSE Nifty50 and BSE Sensex — made marginal gains on Tuesday, as positive global cues along with “some value buying” buoyed investors’ sentiments.

According to market observers, positive Asian and European markets as well as “an initial spurt of value buying” enhanced the risk-taking appetite of investors.

Healthy buying was witnessed in pharma, media and banking companies stocks.

The 30-scrip Sensitive Index (Sensex) closed higher by 33 points or 0.11 per cent.

Similarly, the wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 11.20 points or 0.11 per cent at 9,765.55 points.

The BSE Sensex, which opened at 31,393.93 points, closed at 31,291.85 points, up by 33 points or 0.11 per cent from Monday’s close at 31,258.85 points.

The Sensex touched a high of 31,484.28 points and a low of 31,241.50 points during the intra-day trade.

The BSE Sensex and NSE Nifty had opened higher on Tuesday against their respective previous sessions’ close.

However, broad market indices — the BSE mid-cap and BSE small-cap — underperformed the main indices.

“Markets ended with marginal gains on Tuesday after trading in a tight range during the day,” Deepak Jasani, Head of Retail Research, HDFC Securities, told IANS.

“Gains in European and Asian bourses helped the main indices to settle with marginal gains. Major Asian markets have ended on a positive note, barring the Nikkei index. European indices like FTSE 100, DAX and CAC 40 traded higher.”

On the currency front, the Indian rupee strengthened by four paise to 64.10 to a US dollar from its Monday’s close.

In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrip worth Rs 828.69 crore, whereas domestic institutional investors (DIIs) purchased stocks worth Rs 435.05 crore.

“Major losers were NTPC, Hero MotoCorp and Bajaj Auto as they post losses between 1.2 per cent and 2.2 per cent. Dr Reddy’s, Lupin and Sun Pharma were the top gainers as their stocks rose by 3.30 per cent, 1.93 per cent, and 1.64 per cent, respectively,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

Major Sensex gainers on Tuesday were: Dr Reddy’s Lab, up 2.67 per cent at Rs 1,984.85; Lupin, up 2.32 per cent at Rs 944.25; Sun Pharma, up 2.24 per cent at Rs 470.85; ONGC, up 1.11 per cent at Rs 159.30; and Axis Bank, up 1.01 per cent at Rs 499.15.

Major Sensex losers were: NTPC, down 2.56 per cent at Rs 167.45; Hero MotoCorp, down 2.07 per cent at Rs 3,885.30; Bajaj Auto, down 1.09 per cent at Rs 2,740.50; Tata Consultancy Services (TCS), down 1.01 per cent at Rs 2,496.05; and Larsen and Toubro (L&T), down 0.64 per cent at Rs 1,119.25.

–IANS
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Post Source: Ians feed

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