Sensex rises 109 points higher, IT, telecom stocks gain

Sensex rises 109 points higher, IT, telecom stocks gain

Sensex rises 109 points higher, IT, telecom stocks gain

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,782.24 points, closed at 16,840.8 points, up 109.86 points or 0.66 percent compared to its previous close at 16,730.94 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange too ended 0.41 percent up at 5,056.6 points.

The midcap and smallcap indices on the BSE, however, closed lower, while the broader market index, BSE 500, ended flat.

IT, telecom and FMCG stocks rose, while realty, auto and banking scrips ended on the losing side.

The market breadth at the BSE was negative, with 890 stocks moving up, compared to 1,954 on the decline and 104 remaining unchanged.

Among main gainers on the Sensex were: TCS, up 3.13 percent at Rs.1,004.55; Hero MotoCorp, up 2.8 percent at Rs.1,937.85; Coal India, up 2.64 percent at Rs.397.85; and Infosys, up 2.36 percent at Rs.2,449.15.

Main losers included: DLF, down 6.03 percent at Rs.177.60; Maruti Suzuki, down 3.19 percent at Rs.1,186.50; Tata Motors, down 2.8 percent at Rs.779.30; and ICICI Bank, down 2.63 percent at Rs.910.55.

According to data available with the Securities and Exchange Board of India, foreign institutional investors bought stocks worth $46.45 million Wednesday.

A slew of economic data indicated a slowdown in global growth. The stream of negative news included a higher jobless rate in Britain, fall in US housing numbers and tepid German second-quarter growth.

Major Asian markets ended mixed.

The benchmark Japanese Nikkei closed 0.55 percent higher at 9,057.26 points, while Hong Kong's Hang Seng rose 0.38 percent to close at 20,289.03 points.

The Chinese Shanghai Composite index, however, ended 0.26 percent down at 2,601.26 points.

European markets too were ruling on a mixed note.

The FTSE 100 of UK was ruling 0.37 percent lower at 5,337.6 points, while the German DAX was down 0.35 percent at 5,973.78 points.

But the French CAC 40 was up 0.86 percent at 3,258.6 points.