Press Esc to close
Saturday 25 June 2016
News updated at 2:51 AM IST
Weather
Max: 25.7°C
Min : 19.8°C
In Bengaluru
Generally cloudy

Sensex rises for 4th day, up 39 pts as ICICI Bank, L&T gain

Mumbai, May 17, 2013 (PTI)
File image

Continuing its upward march for the fourth straight day, the BSE benchmark Sensex today rose by 39 points to close at fresh 28-month high of 20,286.12 helped by buying in ICICI Bank, L&T and Infosys shares amid increased capital inflows.

After a sedate start, the 30-share index rose by 38.79 points, or 0.19 per cent, to end the day at 20,286.12 -- the highest since 20,301.10 on January 5, 2011.

It has gained 594.45 points or 3 per cent in 4 days. On a weekly basis, Sensex has gained just 0.81 per cent.

The National Stock Exchange index -- Nifty -- today rose by 17.40 points, or 0.28 per cent, to 6,187.30. Also, MCX-SX flagship index SX40 rose 18.03 points, or 0.15 per cent, to end at 11,972.52.

Brokers said the market remained bullish on reports of higher foreign fund inflows on optimism about a rate cut by RBI in the wake of falling inflation numbers.

A better trend in Asian region and higher opening in Europe further influenced the trading sentiment, they added.

Most Asian stock ended higher. European stocks showed a mixed trend in their early trade.

Power, Capital Goods and Realty sectors attracted good buying. Bhel was the best performer with shares jumping by 4 per cent on FII buying.

Banking scrips were in demand on hopes of interest rate cut with ICICI Bank (1.92 per cent) and SBI (0.41 per cent) among gainers.

ITC ended 0.62 per cent down after posting Q4 results. Bharti Airtel and Sterlite Ind. were among major losers.

Outside major indices, JM Financial rose by 13.4 per cent after the company said former Citigroup chief Vikram Pandit will buy stake in the firm and lead proposed banking foray.

Globally, benchmark indices in China and Japan today rose by 0.67 per cent to 1.38 per cent while indices in Singapore and Taiwan declined by 0.09 per cent to 0.26 per cent. Stock markets in Hong Kong and South Korea were closed today.

European stocks showed a mixed trend in their early trade as indices in UK and France inched up by 0.10 per cent to 0.10 per cent while Germany's DAX eased by 0.06 per cent.
US stocks fell yesterday after reports said Federal Reserve may pullback the central bank's easing programmes earlier than expected.

Moving back to the domestic market, 16 scrips out of the 30-share Sensex pack ended higher while 14 scrips finished lower. Major gainers from the Sensex were BHEL (4.00 pc), NTPC (2.24 pc), ICICI Bank (1.92 pc), L&T (1.84 pc), Bajaj Auto (1.44 pc) and Jindal Steel (1.36 pc).

However, Bharti Airtel dropped by 1.96 per cent, followed by Dr Reddy's Lab (1.80 pc), Sterlite Ind. (1.32 pc) and Maruti Suzuki (1 pc).

Among the sectoral indices, S&P BSE-Power rose by 3.08 per cent, followed by S&P BSE-CG (2.96 pc), S&P BSE-Realty (2.02 pc) while S&P BSE-CD eased by 0.72 per cent and the S&P BSE-HC by 0.39 per cent.

Total market breadth continued to show negative trend as 1,245 stocks finished higher while 1,112 stocks ended lower. 142 stocks ruled steady.

"Foreign fund flow has been strong as well. Investors are also betting on an aggressive reduction in interest rate following the April inflation numbers which came at sub 5% after a long period of time," said Sanjeev Zarbade, Vice President- Private Client Group Research, Kotak Securities.

Foreign Instituional Investors (FIIs) continued their buying spree by investing net Rs 1,070.33 crore yesterday as per the provisional figure from stock exchanges.


Go to Top

Photo Gallery
BJP activists holding a protest in front of Ram Remple in Bhubaneswar on Friday...

BJP activists holding a protest in front of Ram Remple in Bhubaneswar on Friday...

Puneri Paltan captain Manjeet Chillar poses for media during a press conference of Pro Kabaddi...

Puneri Paltan captain Manjeet Chillar poses for media during a press conference of Pro Kabaddi...

John Abraham, Varun Dhawan and Jacqueline Fernandez during the pramotion...

John Abraham, Varun Dhawan and Jacqueline Fernandez during the pramotion...

Former cricketer Venkatesh Prasad being feliciated with an Assamese traditional ...

Former cricketer Venkatesh Prasad being feliciated with an Assamese traditional ...

Modi paying floral tributes at the bust of former Prime Minister Lal Bahadur Shastri...

Modi paying floral tributes at the bust of former Prime Minister Lal Bahadur Shastri...

Prime Minister Narendra Modi interacts with Indian community children in  Tashkent...

Prime Minister Narendra Modi interacts with Indian community children in Tashkent...

Children of Madarsa Maulana Azad Upper Primary School pray for rains in Jodhpur ...

Children of Madarsa Maulana Azad Upper Primary School pray for rains in Jodhpur ...

Launch of the Rolls-Royce Dawn in Mumbai...

Launch of the Rolls-Royce Dawn in Mumbai...

Prime Minister Narendra Modi shakes hands with Russian President Vladimir Putin during...

Prime Minister Narendra Modi shakes hands with Russian President Vladimir Putin during...

Finance Minister Arun Jaitley addresses the Invest in India Business Forum in Beijing...

Finance Minister Arun Jaitley addresses the Invest in India Business Forum in Beijing...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523