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| Edited By: |Source: PTI |Updated: Mar 16, 2018, 05:46 AM IST
The benchmark Sensex today pared most of the gains it scored in the morning deals on profit booking but still managed to close the day higher by 30 points.
Marketmen said profit taking emerged taking cues from weak European indices which led Sensex losing most of the over 251 points it gained in the morning deals.
After swinging wildly on different cues from Asian and European bourses, the key index settled at 16,216.86, a rise of 0.21% over its previous close.
Brokers attributed firm opening to positive Asian advices on the back of surge in US stocks yesterday.
They said sustained buying by foreign institutional investors (FIIs) kept the market upbeat at initial stages. FIIs has picked up shares worth Rs 2,417.96 crore in last three days since September 7, according to provisional data.
Besides Shanghai Composite index, other indices from Asia such as Hang Seng, Nikkei, Straits Times, Kospi and Taiwan Weighted ended up in the range of 1-2%.
European markets after resuming firm were trading narrowly mixed with downward bias with investors were waiting the decision by the Bank of England on interest rates later in the day. France and UK were down while Germany was slightly up.
Fall in exports for the 11th straight month in August by 19.7% due to continuing slump in global demand also put pressure on the market in later part of the day.
Meanwhile, inflation rose marginally to minus 0.12% for the week ended August 29 from minus 0.21% in the previous week.
The broader 50-share Nifty of the National Stock Exchange also edged up by 5.15 points or 0.11% to 4,819.40 from its last close.
From the Sensex pack, ICICI Bank rose by 3.12%, Sterlite Ind 2.51%, Tata Steel 2.27%, Infosys Tech 1.92% and Bharti Airtel 1.81%.
However, DLF dropped 2.27%, Hero Honda 2.45 %, Jaipra Asso 2.25%, Hindalco 2.05%.
Among sectorial indices, BSE-Metal improved 1.23% and Bankex 1.01%. BSE-Realty, however, dipped 2.26% and the BSE-CD 1.58%.
Although the index ended up, the market breadth continued to show weakness as 1,710 counters ended with losses against 1,093 that finished with gains on the BSE, a result of selling in second line stocks.
The trading volume was high at Rs 6,720.80 crore from Rs 6,249.54 crore on Wednesday. RNRL topped the list of highest traded securities with a turnover of Rs 277.58 crore.
