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Sensex gains 184 points; IT stocks rise

Mumbai, January 9: In a volatile trade session, a benchmark index of Indian equities markets closed Friday’s trade up 184 points or 0.67 percent. The key market index made healthy gains a day after it broke a three–session losing streak. The barometer index of the S&P Bombay Stock Exchange (BSE) surged to a high of 195.28 points in the intra–day. Healthy buying was observed in information technology (IT), healthcare, oil and gas, technology, entertainment and media (TECK) and consumer durables stocks.

However, selling pressure was sustained in banking, capital goods, metal, realty and power sectors. The 30–scrip Sensitive Index (Sensex) of the S&P BSE, which opened at 27,404.19 points, closed the day’s trade at 27,458.38 points, up 183.67 points or 0.67 percent from the previous day’s close at 27,274.71 points.

The Sensex touched a high of 27,507.67 points and a low of 27,119.63 points in intra–day trade. “We have seen high volatility today and we continue to maintain our view to see continued instability over the next two–three weeks as FIIs’ outlook will be dependent on ECB (European Central Bank) meet, Greece exit (from eurozone) and US FED rate decision by month end,” said Vinod ir, head–fundamental research, Geojit BNP Paribas Fincial Services.

The S&P IT index surged by 364.84 points, healthcare index moved up by 257.13 points, oil and gas index was higher by 154.47 points, TECK index increased by 140.37 points, and consumer durables index rose 79.72 points.

However, S&P BSE banking index was down 67.25 points, followed by capital goods index which was lower by 63.18 points. Metal index fell 33.93 points, realty index plunged 21.55 points and power index slipped 19.14 points. The wider 50–scrip Nifty of the tiol Stock Exchange (NSE) also closed in green with gains of 49.90 points or 0.61 percent at 8,284.50 points.

The major Sensex gainers were: Hindustan Unilever, up 5.94 percent at Rs.863.50; Infosys, up 5.02 percent at Rs.2,073.60; Dr.Reddy’s Lab, up 3.21 percent at Rs.3,163.85; Tata Consultancy Services (TCS), up 2.80 percent at Rs.2,512.20; and ONGC, up 2.77 percent at Rs.351.05. The losers were: NTPC, down 3.31 percent at Rs.140.15; Bajaj Auto, down 2.80 percent at Rs.2,381.50; ITC, down 1.59 percent at Rs.356.70; ICICI Bank, down 1.48 percent at Rs.342.10; and Sesa Sterlite, down 1.36 percent at Rs.207.45. (IANS)

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Ankur Kalita

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