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Wednesday 23 July 2014
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Sensex closes 21 points higher; Infosys down over 2 per cent

Mumbai, Dec 23, 2013, (PTI):
After rising nearly 130 points, the benchmark Sensex today closed with a slender gain of 21.31 points on late selling in bluechips including Infosys, HDFC and TCS despite a firm trend in the global markets. PTI file photo

After rising nearly 130 points, the benchmark Sensex today closed with a slender gain of 21.31 points on late selling in bluechips including Infosys, HDFC and TCS despite a firm trend in the global markets.

In volatile trade, the BSE Sensex rose to day's high of 21,207.89 but frittered away most gains to end at 21,101.03, a rise of 21.31 points, or 0.10 per cent. The gauge had surged 371.10 points on Friday.

Twenty one constituents, including ITC, ICICI Bank and ONGC, rose in the 30-share index. However, Infosys that fell 2.3 per cent, HDFC (1.2 per cent down) and TCS (0.5 per cent down) accounted for nearly 90-point drop in Sensex.
Brokers said apart from profit-booking at higher levels, RBI Governor Raghuram Rajan's comment that nobody should doubt the central bank's desire to fight inflation, also led to selling.

The 50-share NSE index Nifty closed 10.25 points up, or 0.16 per cent, at 6,284.50. Also, SX40 index, the flagship index of MCX-SX, closed 33.67 points up at 12,559.21.
Sectorally, the BSE Realty sector index gained the most today by rising 3.16 per cent, followed by Metal index (1.52 per cent), Capital goods index (1.30 per cent) and Power index (0.93 per cent).


However, BSE IT and TECK fell. "Infosys saw a sentimental impact after the company announced the exit another senior management personnel. IT stocks are trading in overbought zone and a correction in the near term can't be ruled out," said Milan Bavishi, Head Research, Inventure Growth and Securities.

In broader markets, United Spirits fell over 3 per cent after after a court last week ordered the annulment of sale of United Breweries Holdings' (UBHL) stake in United Spirits to Diageo.
Globally, major Asian markets closed higher. European indices were also trading higher in early trades.

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