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Markets end in green in choppy trade
The 30-share benchmark Sensex started higher and climbed on top of gains in blue-chips, but profit-booking, a mixed Asian trend and a lower opening of European stocks made sure it did not go too far. In the end, the Sensex settled at 25,844.18, a measly gain of 27.82 points, or 0.11 per cent. Intra-day, it moved between 25,956.34 and 25,716.81.
Mumbai: Indian stock markets ended in the green for the fifth straight session even as volatile trade continued for the most part of the day on Wednesday. Investors added to their bets amid sustained inflows by foreign funds, but the gains were somewhat offset by concerns about TCS' weaker-than-expected margins and slide in oil prices due to oversupply issues.
The 30-share benchmark Sensex started higher and climbed on top of gains in blue-chips, but profit-booking, a mixed Asian trend and a lower opening of European stocks made sure it did not go too far. In the end, the Sensex settled at 25,844.18, a measly gain of 27.82 points, or 0.11 per cent. Intra-day, it moved between 25,956.34 and 25,716.81. The gauge had gained 1,143 points in the previous four sessions on the back of positive macro data, including those of inflation, IMD's forecast of an above-normal monsoon and Infosys' upbeat revenue guidance. The NSE Nifty-50 gave up the day's gains as profit-booking weighed and closed little changed at 7,914.75.
The rupee gave investors more to look forward to after it strengthened to 66.22 against the US dollar on foreign fund inflows amid a weakening American currency overseas on subdued economic data.
Foreign portfolio investors (FPIs) purchased shares worth a net Rs 977.98 crore on Monday, according to provisional data.
Among the gainers, Tata Steel surged the most, up 6.52 per cent at Rs 356.85, followed by Axis Bank (3.13 per cent) at Rs 458.05. HDFC ended 0.98 per cent higher at Rs 1,138.40 after its subsidiary HDFC Standard Life announced plans to launch its IPO in which the company will sell a 10 per cent stake.
However, TCS, the country's largest IT exporter, stumbled the most by falling 2.79 per cent to Rs 2,451.90. In the 30-share Sensex pack, 20 rose while 10 fell. The BSE metal index rose the most by climbing 3.77 per cent, followed by consumer durables, infrastructure and power.
In the rest of Asia, Japan's Nikkei ended 0.19 per cent higher while Hong Kong's Hang Seng shed 0.93 per cent. European markets too were trading in the negative zone, tracking losses across most of Asia.
