Nifty ends above 2800;Tata Steel, Zee Ent up
Mumbai, Feb 4:Equities witnessed a dull trade Wednesday as investors chose to stay away in a directionless market. Metal and realty space ended higher while healthcare closed marginally lower.
National Stock Exchange"s Nifty ended at 2803.05, up 19.15 points or 0.69 per cent. The broader index hit an intra-day high of 2842.20 and low of 2780.70.
Bombay Stock Exchange"s Sensex closed at 9201.85 up 52.55 points or 0.57 per cent. The index touched an intra-day high of 9338.21 and low of 9164.16.
BSE Midcap Index was down 0.45 per cent and BSE Smallcap Index ended flat.
Tata
Steel
(5.15
per
cent),
Zee
Entertainment
(5.01
per
cent),
DLF
(4.97
per
cent),
Sterlite
Industries
(4.63
per
cent)
and
SAIL
(3.87
per
cent)
were
the
biggest
Nifty
gainers.
4.37
PM
Market
pares
gains;
M&M,
Ranbaxy
drag
The market lost steam in afternoon trade as traders booked profits. Consumer durables and healthcare stocks edged lower. But metals kept up the good work. Realty and energy stocks also posted decent gains.
At 2:35 pm, Bombay Stock Exchange's Sensex was at 9,181.73 up 32.43 points or 0.37 per cent. The index touched an intra-day high of 9338.21 and low of 9,181.02.
National Stock Exchange's Nifty was at 2795.15, up 11.25 points or 0.4 per cent. The broader index hit an intra-day high of 2842.20 and low of 2780.70.
BSE Smallcap Index was up a mere 0.53 per cent at 3,291.45 after a run-up to 3,314.92. BSE Midcap Index was up 0.05 per cent at 2,874.97.
Biggest Sensex gainers were Sterlite Industries (5.4 per cent), Jaiprakash Associates (5.28 per cent), DLF (4.51 per cent), Tata Steel (4.45 per cent) and Reliance Industries (3.73 per cent).
Mahindra
&
Mahindra
(-1.62
per
cent),
Ranbaxy
Laboratories
(-1.53
per
cent),
Hindalco
Industries
(-0.78
per
cent),
NTPC
(-0.68
per
cent)
and
ITC
(-0.61
per
cent)
were
the
losers.
3.01
PM
Sensex
tests
9300;
metals,
realty
lead
Equities
held
on
to
early
morning
gains
Wednesday
as
traders
took
positions
in
beaten
down
sectors
like
realty
and
banks
at
lower
levels.
Shares
of
metal
companies
were
in
demand
following
a
rally
in
commodities
in
Asian
markets
on
hopes
that
commodities
may
have
bottomed
out.
“Fundamentally speaking technology stocks look cheap, while banking and telecom prospects are deteriorating in the medium term. Global investors await interest rate decisions by the Bank of England and the European Central Bank on Thursday and ahead of the key U.S. employment report on Friday. For the day, 1 per cent gap up and near 2 per cent rise on the indices will keep us in sync with our Asian brethren," said Anagram Stock Broking note.
At 10:30 am Bombay Stock Exchange"s Sensex was at 9265.22, up 115.92 points or 1.27 per cent. The index touched a high of 9306.04 and low of 9226.20.
National
Stock
Exchange"s
Nifty
was
at
2824.60,
up
40.70
points
or
1.46
per
cent.
The
broader
index
hit
an
intra-day
high
of
2831.65
and
low
of
2780.70.
11.58
PM
Stocks extend gains; metals lead
Indian stocks opened higher on Wednesday, Feb 4 in line with Asian peers. Bombay Stock Exchange"s 30-share Sensex rose 128 points or 1.41 per cent to 9277. National Stock Exchange"s benchmark Nifty climbed 38.85 points to 2821.90 from its previous close.
“We believe that the market will open up and rally but we continue to believe that every rise should be an opportunity to sell into the market as situation continues to remain serious. For the day, we are positive," said Religare Research in a note.
US stocks rose on Tuesday, Feb 3 as news of an alternative stimulus plan from Senate Republicans suggested lawmakers were moving closer to a package that would soften the blow of a deepening recession.
The Dow Jones Industrial Average was up 141.53 points, or 1.78 per cent, to 8,078.36. The Standard & Poor's 500 Index rose 13.07 points, or 1.58 per cent, to 838.51. The Nasdaq Composite Index climbed 21.87 points, or 1.46 per cent, to 1,516.30.
OneIndia News (With inputs from Agencies)