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Sensex ends 80 points up; bank stocks rise

Published On : 18 Jul 2014


Mumbai, July 18 (IANS) A benchmark index of Indian equities markets on Friday was trading 61.47 points or 0.24 percent down as metal and banking stocks tanked.

 

Healthy buying was also observed in capital goods sectors, while selling pressure was seen in oil and gas, consumer durables and metal stocks.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 25,558.48 points, ended trade at 25,641.56 points, up 80.40 points or 0.31 percent from the previous day's close at 25,561.16 points.

The Sensex touched a high of 25,713.40 points and a low of 25,441.24 points in the trade so far.

“The week saw benchmark indices rise by about three percent as concerns on crude price eased. Monsoon also progressed during the week, easing worries on inflation. Quarterly results, especially from IT majors, were above estimates and improved sentiments," said Dipen Shah, head - private client group research, Kotak Securities.

"With the major event of budget out of the way, the markets will likely continue to focus on issues like monsoons, global economy and quarterly results in the short term."

In the day's trade S&P BSE bank index surged by 134.21 points, while IT index gained by 132.47 points, and capital goods index rose 67.22 points. However, oil and gas index fell 83.63 points, consumer durables index went down by 75.46 points and metal index slipped by 70.62 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed trade 23.45 points or 0.31 percent up at 7,663.90 points.

The major Sensex gainers were: Hero MotoCorp, up 2.62 percent at Rs.2,508.50; Tata Consultancy Service (TCS), up 2.58 percent at Rs.2,442.65; Axis Bank, up 2.10 percent at Rs.1,996.05; ICICI Bank, up 1.97 percent at Rs.1,477.20; and Wipro, up 1.83 percent at Rs.547.70.

The losers were: Tata Power, down 2.58 percent at Rs.105.75, Hindalco Inds, down 2.23 percent at Rs.184.55; BHEL, down 2.10 percent at Rs.237.95; Gail India, down 1.69 percent at Rs.445.30 and Maruti Suzuki, down 1.44 percent at Rs.2,524.

Among the Asian markets, Japan's Nikkei closed 1.01 percent down while Hong Kong's Heng Seng ended 0.28 percent lower. China's Shanghai Composite Index went 0.17 percent up.

In Europe, London's FTSE 100 was down 0.36 percent, the French CAC 40 was lower by 0.22 percent and Germany's DAX Index had lost 0.74 percent at the closing bell here.







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