Sensex ends marginally up by 50.57 points

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Mumbai, Aug 8: The Bombay Stock Exchange (BSE) Sensex closed marginally up by 50.57 points at 15,167.82 amidst lacklustre activities in the stock market for most of time, marking an extremely choppy session. After opening with a negative gap of 80.68 points at 15,036.57, Sensex touched a day's low of 14,888.12, shedding 229 points, then it surged up to a high of 15,228.82 and finally settled on a flat note.

Meanwhile, the broader-based S &P CNX Nifty index of National Stock Exchange (NSE) ended up 5.65 points at 4,529.50. Key indices of local stock market staged a late comeback after struggling in the red for a major part of the day, following the fall in crude oil prices and higher US stock futures, brokers said.

Banking and auto shares recovered sharply from early lows. The market breadth was negative. European shares edged higher while Asian markets were trading mixed.

The marketmen expect that the market sentiment may remain cautious in the forthcoming week, as the market regulator Securities &Exchange Board of India (SWBI) is scheduled to meet on August 13 to review the rules relating to issuance of Participatory Notes (PNs) by foreign portfolio investors, which it had revised in October last year.

The market breadth was negative on BSE, with 1,409 shares declining as compared to 1,306 that advanced, while 67 remained unchanged. The BSE Mid-Cap were marginally up form their previous close.

The total turnover on BSE was quoted at Rs 5,375 crore as compared to Rs 5,691 crore a day before. NSE's futures&options turnover amounted to Rs 49,917.63 crore as compared to Rs 61,180.08 crore in the previous session.

Banking and auto shares rebounded sharply from early lows. ICICI Bank gained 2.80 pc to Rs 728.35, off day's low of Rs 683.10 and HDFC Bank was up 1.54 pc to Rs 1273, off day's low of Rs 1225. However, State Bank of India (SBI) fell marginally at Rs 1523. The stock came sharply off the day's low of Rs 1477.40.

Fall in crude oil prices pulled up auto stocks from day's low.

Tata Motors recovered from day's low of Rs 427 and closed marginally down by 0.21 pc lower at Rs 443.25. Mahindra&Mahindra ended 0.68 pc lower at Rs 572.05 after hitting a day's low of Rs 551.10. While, Maruti Suzuki India closed with a gain of 1.26 pc to Rs 677, after sliding to day's low of Rs 655.05.

Oil and Natural Gas Corporation (ONGC) surged 4.21 pc to Rs 1066.20. It was the top gainer from the Sensex pack. Cipla shot up by 3.19 pc to Rs 234.70, Larsen&Toubro gained 3.02 pc to Rs 2841.05 and Bharat Heavy Electricals closed slightly up at Rs 1780.

Tata Steel gained 1.16 pc to Rs 650.25 after three straight days of fall. Hindalco was up 2.04 pc to Rs 144.90, HDFC up 1.35 pc to Rs 2510 and NTPC up 0.60 pc to Rs 184.55.

UNI

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