Sensex back in green, Nifty closes above 8,400

Sensex back in green, Nifty closes above 8,400
The benchmark BSE Sensex recovered by nearly 22 points to close at 27,257.64 points today on fresh buying by investors as well as funds mainly in metal and financial stocks amid firm global markets. The broader NSE Nifty too closed above 8,400-mark with total gains of 19 points at close.

Sentiment remained firm for the better part of the session as buying picked up momentum after other Asian markets rose. European shares were also trading in the positive zone in early deals. However, profit-booking by participants at the fag-end and rupee depreciating to 68.05 against the dollar during the day cut early gains.

The BSE benchmark Sensex opened higher at 27,261.76 and hovered in a range of 27,422.67 to 27,217.65 in day trade. It closed at 27,257.64, showing a gain of 21.98 points or 0.08 per cent. The 50-share Nifty also recovered by 19.00 points, or 0.23 per cent to close at 8,417.00 after moving in a range of 8,460.30 and 8,397.40.

The Sensex had dropped by 52.51 points yesterday after IMF sharply lowered India's GDP estimates. The recovery was supported by gains in Tata Steel (up 2.95 per cent), HUL (2.86 per cent) and ONGC (1.51 per cent). Other gainers included M&M, TCS, SBI, Coal India, HDFC Bank, Axis Bank, Power Grid, HDFC Ltd, L&T, Sun Pharma and Maruti Suzuki.

A mong laggards, NPTC was the biggest loser, tumbling 1.65 per cent, followed by GAIL (1.37 per cent). Index major Reliance Industries dropped nearly 1 per cent. Overall, 15 scrips ended higher out of the 30-share Sensex pack. Sector wise, the BSE Metal index rose 2.27 per cent, followed by consumer durables 0.71 per cent, capital goods 0.63 percent and bankex 0.53 per cent.

In broader markets, the BSE small-cap index gained 0.61 per cent and mid-cap ended 0.45 per cent higher. Foreign portfolio investors (FPIs) bought shares worth a net of Rs 142.21 crore yesterday, as per provisional data released by the stock exchanges. Overseas, Asian markets closed higher with Japan's Nikkei closing up 0.43 per cent, Hong Kong's Hang Seng gaining 1.16 per cent and China's Shanghai rising by 0.14 per cent.

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