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Sensex gains 63 points to close at 1-week high

Tuesday, 6 May 2014 - 4:34pm IST | Agency: PTI
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The BSE benchmark index Sensex today advanced by 63 points to close at one-week high as bluechips led by Reliance Industries, ITC and ICICI Bank gained on sustained buying by funds and retail investors. The 30-share index had risen by 158 points to a high of 22,602.71 in early trade as FIIs continued to invest in Indian equity markets. 

However, profit booking in some counters trimmed some of the gains and the barometer closed up by 63.30 points, or 0.28 %, at 22,508.42 points, a closing level not seen after April 28. The index gained 41.23 points in the last session.

The National Stock Exchange's index Nifty advanced by 15.95 points, or 0.24 %, to 6,715.30, after shuttling between 6,743.45 and 6,701.90 in day trade. Brokers said foreign institutional investors (FIIs) continued to show optimism in the Indian stock market and pumped in more funds, boosting sentiment here.

FIIs bought shares worth a net Rs 279.86 crore yesterday as per provisional data from the stock exchanges. They said encouraging fourth quarterly earnings by some more companies also triggered buying activity. Among Sensex stocks, Reliance Industries was the biggest gainer rising by 1.91 %, while ONGC ended 0.45 %. ICICI Bank jumped 1.63 %, FMCG major ITC surged 1.06 %, Larsen and Toubro by 1.24 % and Mahindra and Mahindra by 0.55 %.

Tata Motors rose by 0.98 %, Tata Steel by 0.89 % and Maruti Suzuki by 0.61 %. On the other hand, Hero Motocorp, Bajaj Auto, Infosys, TCS, Wipro, Tata Power, Hindalco and Bharti Airtel were among the major losers with losses of up to 2.10 %. In 30-BSE index components, 14 stocks gained, 15 ended lower while NTPC remained steady at Rs 114.

The consumer durables index gained the most by rising 3.22 % to 6,793.61 followed by oil and gas by 1.10 % to 9,804.20. Capital goods sector index by 0.99 % to 12,129.67, Banking index by 0.54 % to 14,829.50 and FMCG index by 0.46 % 6,821.68. 




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