Supportive global peers and positivism on the domestic front pushed Indian stock market indices to end on a positive note for the fourth successive trading day of the year. Indian equity markets got off to a weak start following bearish global sentiment and remained choppy witnessing lackluster movements till mid-afternoon. However, index regained some momentum towards the tail-end, led by buying in oil and gas and selects technology stocks, and ended with modest gain. Despite severe profit booking in commodity and auto stocks, indications of a new pricing formula and some radical policy reforms in the oil sector to cut down ballooning fiscal deficit, Indian market managed to end the day in green.
The benchmark BSE index, Sensex rose by 19.30 points, or 0.10 per cent, to close at 19,784.08. The Sensex posted a gain of 1.74 per cent for the week. The broad-based NSE index, Nifty gained by 6.65 points, or 0.11 per cent, to 6,016.15, closing above the psychologically important 6,000 level for a second day and for the first time in two-years. It rose 1.8 percent for the week.
Cairn, BPCL, BHEL, GAIL, IDFC, Wipro, TCS, HCL Tech, ONGC and PNB were the top Nifty gainers. The losers included Tata Steel, Jindal Steel, Sesa Goa, Hindalco, Tata Motors, Axis Bank, HDFC, Bajaj Auto, Kotak Bank and L&T.
In all, 16 out of 30 Sensex-based counters closed with gains while 13 others finished with losses. Tata Power held stable. Total market breadth remained positive with 1,521 stocks gaining while 1,435 finished with losses. Total turnover was at Rs 2,591.49 crore from Rs 2,688.83 crore yesterday. From sectoral indices, the BSE-Oil&Gas firmed up by 1.05 per cent, BSE-PSU by 1.02 per cent and BSE-IT by 0.95 per cent, while BSE-Metal dipped by 1.01 per cent.
GAIL India was the top gainer with a rise of 1.90 per cent, followed by ONGC with a rise of 1.79 per cent, BHEL gaining by 1.76 per cent, TCS rising by 1.50 per cent and Wipro by 1.47 per cent. However, Tata Steel declined by 1.91 per cent, followed by Sterlite Ind, 1.64 per cent, Jindal Steel, 1.58 per cent and Hindalco, 1.34 per cent.
Globally, most Asian stocks ended lower, dampened by the overnight sell-off in US equities amid speculation that the Federal Reserve will bring an end to quantitative easing measures early this year. Key indices in China and Singapore closed with minor gains while those from Hong Kong, South Korea and Taiwan closed lower. The Japanese index soared 2.8 per cent. European stocks were quoting slightly weak in their afternoon trading. The CAC was down by 0.18 per cent, the DAX by 0.09 per cent and the FTSE by 0.03 per cent.
However, government of India allowing Reliance Industries and Cairn India to explore oil and gas within the producing fields subject to certain conditions aided the market sentiment and indicated the positive outlook of the government about economic reforms.
The benchmark BSE index, Sensex rose by 19.30 points, or 0.10 per cent, to close at 19,784.08. The Sensex posted a gain of 1.74 per cent for the week. The broad-based NSE index, Nifty gained by 6.65 points, or 0.11 per cent, to 6,016.15, closing above the psychologically important 6,000 level for a second day and for the first time in two-years. It rose 1.8 percent for the week.
Cairn, BPCL, BHEL, GAIL, IDFC, Wipro, TCS, HCL Tech, ONGC and PNB were the top Nifty gainers. The losers included Tata Steel, Jindal Steel, Sesa Goa, Hindalco, Tata Motors, Axis Bank, HDFC, Bajaj Auto, Kotak Bank and L&T.
In all, 16 out of 30 Sensex-based counters closed with gains while 13 others finished with losses. Tata Power held stable. Total market breadth remained positive with 1,521 stocks gaining while 1,435 finished with losses. Total turnover was at Rs 2,591.49 crore from Rs 2,688.83 crore yesterday. From sectoral indices, the BSE-Oil&Gas firmed up by 1.05 per cent, BSE-PSU by 1.02 per cent and BSE-IT by 0.95 per cent, while BSE-Metal dipped by 1.01 per cent.
GAIL India was the top gainer with a rise of 1.90 per cent, followed by ONGC with a rise of 1.79 per cent, BHEL gaining by 1.76 per cent, TCS rising by 1.50 per cent and Wipro by 1.47 per cent. However, Tata Steel declined by 1.91 per cent, followed by Sterlite Ind, 1.64 per cent, Jindal Steel, 1.58 per cent and Hindalco, 1.34 per cent.
Globally, most Asian stocks ended lower, dampened by the overnight sell-off in US equities amid speculation that the Federal Reserve will bring an end to quantitative easing measures early this year. Key indices in China and Singapore closed with minor gains while those from Hong Kong, South Korea and Taiwan closed lower. The Japanese index soared 2.8 per cent. European stocks were quoting slightly weak in their afternoon trading. The CAC was down by 0.18 per cent, the DAX by 0.09 per cent and the FTSE by 0.03 per cent.
However, government of India allowing Reliance Industries and Cairn India to explore oil and gas within the producing fields subject to certain conditions aided the market sentiment and indicated the positive outlook of the government about economic reforms.
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