Sensex up 128 points; bank stocks rise

Mumbai, Feb 10 (IANS) A day after it fell 491 points due to negative global cues, a benchmark index of the Indian equities markets closed Tuesday’s trade 128 points or 0.45 percent up.

Healthy buying was observed in bank, automobile, metal, consumer durables and capital goods stocks, while oil and gas, information technology (IT), technology, entertainment and media (TECK) and healthcare sectors came under heavy selling pressure.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 28,122.48 points, closed the day’s trade at 28,355.62 points, up 128.23 points or 0.45 percent from the previous day’s close at 28,227.39 points.

The Sensex touched a high of 28,633.72 points and a low of 28,044.49 points in the intra-day trade.

“Market has taken a break from the sharp fall seen in the last few sessions which was led by poor quarterly results, Europe issue and doubts if we can have a rate cut in the near-term,” said Vinod Nair, head-fundamental research, Geojit BNP Paribas Financial Services.

“All these issues continues, hence till the next few sessions as market concludes what can be expected from the coming budget, we can consolidate, since it can provide answers to many of these questions.”

Sector-wise, the S&P BSE bank index rose 371.46 points, followed by automobile index which was up 325.04 points, metal index was higher by 166.26 points, consumer durables index increased 149.43 points and capital goods index gained 103.96 points.

However, oil and gas index fell 93.57 points, IT index decreased 85.77 points, TECK index declined by 40.51 points and healthcare index was down 14.85 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also made gains in the day’s trade. It was up 39.20 points or 0.46 percent at 8,565.55 points.

The major Sensex gainers were Tata Motors, up 4.01 percent at Rs.564.35; ICICI Bank, up 3.34 percent at Rs.331.05; Tata Steel, up 2.80 percent at Rs.357.65; State Bank of India (SBI), up 2.65 percent at Rs.287.15; and Sesa Sterlite, up 2.64 percent at Rs.206.35.

The losers were Tata Consultancy Services (TCS), down 2.87 percent at Rs.2,442.95; Sun Pharma, down 2.33 percent at Rs.919.40; HDFC, down 2.05 percent at Rs.1,244.80; Reliance Inds, down 1.63 percent at Rs.882.70; and Hindustan Unilever, down 1.17 percent at Rs.889.45.

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