Stock markets end with nominal gain

Mumbai, Apr 10: The Sensex today settled marginally higher on the Bombay Stock Exchange at 13,189.54 points, recording a nominal gain of 11.80 points after weak global markets forced investors to a defensive stance.

Among the broader markets, the 50-stock Nifty Index also gained a modest 4.65 points on the National Stock Exchange (NSE) to end at 3,848.15 from its previous close of 3,843.50 points.

Though the 30-scrip Sensex had opened firm, at 13,236.20 and struck a high of 13,236.20, the benchmark index also fell to a low of 13,075.48, in the afternoon session. Even as the market flattened out, its breadth remained firm. Buying kept happening in small-cap and midcap stocks. Against 1,539 advancing, 1015 had declined. Also, 76 scrips remained unchanged. The total turnover on BSE amounted to Rs 4185 crore. Among the 30-Sensex pack, 18 advanced while the rest declined, market analysts observed.

The Nikkei Average fell 0.45 per cent today, after US stocks failed to rise despite a strong jobs data, prompting investors to sell recent gainers such as Advantest Corp after the benchmark logged its highest close in nearly six weeks in the previous session. The Nikkei 225 index was trading down 79.07 points, at 17,664.69.

Hong Kong's Hang Seng Index was up 141.93 points (0.70 per cent), to 20,351.64.

Oil prices bounced back slightly today, as Asian traders reacted to a slide the day before pulling prices down by USD 3. Light, sweet crude for May delivery rose 30 cents to USD 61.81 in mid-morning Asian electronic trading on the New York Mercantile Exchange.

US stocks closed flat yesterday as news that billionaire investor Warren Buffett had purchased stakes in the railroad sector and strong jobs data offset worries about earnings and subprime loans. The Dow Jones Industrial Average rose 8.94 points, or 0.07 per cent, to end at 12,569.14. The Standard&Poor's 500 Index gained 0.85 of a point, or 0.06 per cent, to finish at 1,444.61. But the Nasdaq Composite Index dipped 2.16 points, or 0.09 per cent, to close at 2469.18.

Housing finance major HDFC was the top-gainer, up 3.83 per cent to Rs 1615, on a volume of 1.15 lakh shares. Tata Motors advanced by 2.15 per cent to Rs 718.50, on total volumes of 13 lakh shares.

Cigarette major ITC gained 2.86 per cent to Rs 159.80, while FMCG major HLL advanced 2.63 per cent to Rs 209.

Index heavyweight Reliance Industries (RIL) was down 0.13 per cent to Rs 1382, as 3.23 lakh shares changed hands in the counter on BSE.

Frontline IT stocks were in correction mode ahead of their March quarter results. The BSE IT Index had slipped 2.10 per cent, and was the biggest loser among sectoral indices on BSE.

Satyam Computers was the top-loser, down 3.40 per cent to Rs 445.95, on a volume of 6.83 lakh shares. Infosys (down 2.15 per cent to Rs 2000), Wipro (down 2.63 per cent to Rs 547) and TCS (down 1.50 per cent to Rs 1198) also suffered under concerns pertaining to results.

Meanwhile, Bajaj Auto slipped by 1 per cent to Rs 2275, brokers added.

UNI