News with Tags "Sensex"

Mumbai, May 20 (IANS) A benchmark index of Indian equities markets closed Monday's trade down 0.30 percent as there was heavy selling in healthcare, bank, consumer durables, oil and gas and capital goods stocks.

However, scrips of automobile, information technology (IT), technology, entertainment and media (TECk) rallied.

The Sensex touched its highest intra-trade levels since 2011 during the day as there was sustained buying from foreign institutional investors (FIIs). However, profit-bookings in the banking sector stocks and uncertainty over the government's new drug-pricing policy sobered the sentiments.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the red at 20,277.76 points, closed at 20,223.98 points, down 62.14 points or 0.31 percent from its previous-day close at 20,286.12 points.

The Sensex touched a high of 20,443.62 points and low of 20,186.66 points in intra-day trade.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) closed nearly half a percent down. It closed 0.49 percent or 30.40 points up at 6,156.90 points.

The BSE healthcare index was down 164.40 points followed by the bank index 139.64 points, consumer durables index was lower by 89.71 points, oil and gas index was down 77.76 points and capital goods index was was down 55.48 percent.

However, the automobile index was up 92.00 points, followed by IT index, up 36.04 points, and TECk index, up 5.41 points.

Prominent Sensex gainers were: Maruti Suzuki, up 1.90 percent at Rs.1,741.85; Mahindra & Mahindra, up 1.83 percent at Rs.1,003.55; Bajaj Auto, up 1.70 percent at Rs.1,864.90; Tata Steel, up 1.07 percent at Rs.315.30; and Coal India, up 1.06 percent at Rs.300.75.

Among the major Sensex losers were companies like Bharti Airtel that dropped 2.42 percent to Rs.308; ONGC, down 2.09 percent to Rs.332.90; Cipla, down 1.71 percent to Rs.417.40; Wipro, down 1.70 percent to Rs.338.15; and ICICI Bank, down 1.62 percent to Rs.1,208.65.

Among other Asian markets, Japan's Nikkei closed 1.47 percent up, and Hong Kong's Hang Seng went up by 1.78 percent. China's Shanghai Composite Index also closed higher, by 0.75 percent.

In the European markets, Britain's FTSE 100 was trading 0.12 percent down. However, the German DAX was up 0.34 percent as also the French CAC 40 which was ruling 0.14 percent higher.

(Corrects milestone for BSE to highest close since January 2011 from November 2010, paragraph 8)

By Himank Sharma

MUMBAI (Reuters) - The Sensex edged higher on Friday to new 2-1/2-year highs as continued hopes for rate cuts bolstered sentiment for blue chips such as ICICI Bank and Larsen & Toubro, although some analysts warned the recent rally could be running out of steam.

Cement makers such as UltraTech rose after an tribunal looking into an appeal on record fines imposed by the competition watchdog ordered them to deposit only 10 percent of those fines for now as it continues its deliberations.

The Nifty gained 1.31 percent for the week, posting its fifth consecutive week of gains. Data showing easing wholesale inflation on Tuesday has sparked hopes the Reserve Bank of India may cut interest rates as early as next month, after already easing rates three times this year.

Strong gains in global share markets have also helped domestic indexes. Foreign investors have been net buyers for 21 consecutive sessions as of Thursday, bringing in a net of about $13 billion in 2013, regulatory data shows.

"Markets have been running up one way, mainly driven by foreign liquidity. There is no big fundamental trigger at this point except for softening of interest rates and inflation," said Deepak Jasani, head of retail research at HDFC Securities.

"In terms of demand and supply scenario, there hasn't been any major improvement so we do expect a correction in the coming few sessions."

Nifty rose 0.28 percent, or 17.40 points, to 6,187.30, its highest close since November 2010.

The benchmark Sensex gained 0.19 percent, or 38.79 points, to 20,286.12 points, marking its highest close since January 2011.

For the week, the BSE index rose 1 percent.

Rate cut hopes continued to boost ICICI Bank Ltd(ICBK.NS), which rose 1.9 percent after earlier hitting its highest since November 2010. India's biggest private sector lender has gained almost 6 percent this week.

Engineering and construction companies also gained on hopes the sector will benefit from interest rate cuts and government capital spending close to the national elections.

Larsen & Toubro Ltd(LART.NS) rose 1.9 percent, while Jaiprakash Associates Ltd(JAIA.NS) gained 2.8 percent.

Ambuja Cements Ltd(ABUJ.NS) rose 2.1 percent, after earlier hitting its highest since May 3. UltraTech Cement(ULTC.NS) was up 0.7 percent.

Cement companies were granted a stay on a 60-billion-rupee penalty imposed by the country's competition watchdog in June, but ordered by the regulatory tribunal to deposit 10 percent of the amount.

Shares in JM Financial Ltd (JMSH.NS) surged 13.38 percent after the company said former Citigroup(C.N) Chief Executive Vikram Pandit is buying a stake in the financial services company.

However, drugmakers fell after the government formally notified a new drug pricing policy designed to increase the number of drugs deemed essential that are subject to price caps.

Some shares also fell on profit-booking. State Bank of India(SBI.NS) fell 0.23 percent after gaining almost 5 percent earlier this week.

(Editing by Anupama Dwivedi)

Mumbai, May 20 (IANS) A benchmark index of the Indian equities markets was trading nearly half a percent up in the pre-afternoon trade Monday on the back of sustained buying from foreign institutional investors (FIIs) and on positive global cues.

Scrips like automobile, oil and gas and metal rallied. However, there was heavy selling pressure in healthcare, consumer durables and bank stocks.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the red at 20,277.76 points, was trading at 20,371.50 points in afternoon session, up 85.38 points or 0.42 percent from its previous day close at 20,286.12 points.

The Sensex touched a high of 20,443.62 points and low of 20,277.76 points in the intra-day trade.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) was also trading flat, 0.36 percent or 22.10 points up at 6,209.40 points.

The BSE automobile index was up 251.56 points, oil and gas index was 72.16 points higher, while metal index was up 68.17 points. However, healthcare index was down 57.84 points followed by the consumer durables index was lower by 39.09 points and bank index was was down 41.66 percent.

Among other Asian markets, Japan's Nikkei was 1.47 percent up, while Hong Kong's Hang Seng went up by 1.68 percent. China's Shanghai Composite Index was trading higher, by 0.83 percent.

Reuters Market Eye - The BSE Sensex gains 0.52 percent while the broader Nifty advances 0.37 percent, after earlier marking their new 2-1/2-year intraday highs, as foreign portfolio investors extend their record buying spree.

Foreign investors have been net buyers for 22 consecutive sessions as of Friday, bringing in a net of about $13.52 billion in 2013, regulatory and exchange data shows.

Asian stock markets edge higher after U.S. equities hit record closing highs on Friday as encouraging economic data prompted investors to buy into growth companies.

ITC Ltd(ITC.NS) gains 0.76 percent, recovering from a 0.6 percent fall on Friday when its January-March earnings met estimates. Analysts said results were overall healthy, but investors had initially reacted to disappointment about the lack of any major announcements.

State bank of India is up 1.03 percent on expectations its March-quarter earnings due on Friday would beat estimates.

Coal India Ltd (COAL.NS) gains 1.87 percent ahead of its March-quarter earnings later in the day.

(Reporting by Abhishek Vishnoi)