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Rediff.com  » Business » Sensex snaps two-session losing streak, ends slightly higher

Sensex snaps two-session losing streak, ends slightly higher

By SI Reporter
Last updated on: December 26, 2014 16:36 IST
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Sensex gainers include, HDFC, SBI and Sun Pharma among others

BSEBenchmark shares indices ended marginally higher, amid buying interest in late trades, led by IT exporters on the back of upbeat US economic data.

The 30-share Sensex ended up 33 points at 27,241.78 and the 50-share Nifty ended up 27 points at 8,200.70.

The Indian rupee continued to trade weak on the back of month-end dollar demand.

The rupee was trading lower at Rs 63.60 compared to the previous close of Rs 63.52 to the US dollar.

Meanwhile, foreign institutional investors sold Indian equities worth Rs 2,808.27 crore on Wednesday, as per provisional stock exchange data.

The markets were closed on Thursday on account of Christmas Day holiday.

BSE Realty index was the top sectoral gainer up 0.9% followed by IT and Metal, Capital Goods and Bankex indices.

FMCG shares witnessed profit taking with ITC and Hindustan Unilever closing 0.9% lower.

Select auto shares ended with marginal losses. Maruti Suzuki and Hero Moto Corp ended 0.1-1% down.

Capital goods shares ended mixed. BHEL ended down 1.1% while L&T gained 0.8%.

Reliance Industries ended up 0.5%. Media reports suggest that the company has signed a deal with Mitsui OSK Lines for transporting liquefied ethane from North America starting 2017.

ONGC was down 0.4%.

IT exporters were among the top gainers on the back of decline in US jobless claims for the fourth straight week. Infosys and TCS ended up 1% each while HCL Tech and Tech Mahindra gained nearly 2% each.

Other Sensex gainers include, HDFC, SBI and Sun Pharma among others.

Among other shares, D B Realty gained 9% on back of heavy volumes after the real estate developer said that it has received full occupation certificate for its project in the western suburb of Mumbai.

PSU banks ended higher by up to 4% on reports that the Prime Minister Narendra Modi will hold discussions with chiefs of public sector banks on January 3 to work out an action plan for major reforms in the banking sector.

Reliance Capital ended up 0.3%. Japan’s Sumitomo Mitsui Trust Bank will pick up a 2.77 per cent stake in Reliance Capital for Rs 371 crore.

Zensar Technologies ended up 7.7% after the information technology (IT) company announced that it has signed multi-million dollar deals in its infrastructure management business in the US in the concluding month of calendar year 2014.

Corporation Bank ended up 4.7% after the state-owned bank announced record date for stock split of shares.

Ruchi Soya Industries rallied 5.5% on reports that the government has hiked import duty on both crude and refined edible oil by 5%.

SpiceJet surged 9% on media reports that cash-strapped aviation firm will provide a revival plan to the ministry of civil aviation today.

VA Tech Wabag gained 1% after the company announced that it has won World Bank funded sewage treatment plant order worth Rs 175 crore in the Philippines.

In the broader market, the BSE Mid-cap index ended up 0.4% while the Small-cap index ended up flat with positive bias.

Market breadth was neutral with 1,423 losers and 1,412 gainers on the BSE.

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SI Reporter in Mumbai
Source: source
 

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