Sensex recovers 130 points ahead of RBI policy

 

After two sessions of losses, the benchmark BSE Sensex rose over 130 points in early trade on Tuesday on fresh spell of buying by participants ahead of RBI’s monetary policy review. 

The 30-share index, which had lost 559.50 points in the previous two sessions, recovered by 130.79 points, or 0.44 per cent, to 29,253.06, with consumer durables, FMCG, oil & gas, auto and banking sector stocks leading the rise. 

On similar lines, the National Stock Exchange index Nifty gained 26.00 points, or 0.30 per cent, to 8,823.40 in early trade. 

Brokers said besides mixed trend at other Asian bourses and overnight gains in the US markets, selective buying by cautious funds and retail investors ahead of RBI’s policy review due later in the day influenced sentiments. 

Among other Asian markets, Hong Kong Hang Seng moved up 0.24 per cent, while Japan’s Nikkei shed 0.27 per cent in early trade today. 

The US Dow Jones Industrial Average ended 1.14 per cent higher in Monday’s trade.

Sensex ends 60.68 points lower at 29,122

 

 

Nifty below 8,800 ahead of RBI policy

In volatile trade, domestic markets slipped for the second successive session with the benchmark Sensex on Monday falling nearly 61 points to over one-week low of 29,122.27 on caution ahead of the RBI policy review tomorrow.

On similar lines, the 50-share NSE index Nifty, after moving both ways, slipped below the crucial 8,800-mark and settled down 11.50 points, or 0.13 per cent, at 8,797.40.

Profit-booking in recent outperformers, disappointing earnings from some bluechip companies and mixed global cues also weighed on the stock market sentiment, traders said.

Meanwhile, manufacturing sector activity in January slipping from December’s two year record-high as new orders, both from domestic and international sources, continued to grow but at a slower pace, accoding to a monthly HSBC survey.

The BSE Sensex, after commencing on a lower note, continued its decline and slipped below the 29,000-mark to touch intra-day low of 28,958.52 on sustained profit-booking.

However, the benchmark Sensex managed to enter the positive terrain briefly to touch the day’s high of 29,268.13 but late-selling again pushed it back to close at 29,122.27, down 60.68 points, or 0.21 per cent. This is its weakest closing level since 29,006.02 on January 22, 2015.

The Sensex had tumbled 498.82 points last Friday, logging its second biggest single-day fall this year.

In the 30-share Sensex pack, 17 closed with losses, while 13 others led by Axis Bank, Hindalco, Wipro, L&T, GAIL, Sun Pharma, TCS, Tata Motors, Maruti Suzuki and BHEL ended higher.

Major laggards include Bharti Airtel, Dr Reddys, HUL, ICICI Bank, ITC, Sesa Sterlite, Tata Steel and Coal India.

Sectorwise, the BSE FMCG sector index suffered the most by falling 1.77 per cent, followed by Oil & Gas index (0.54 per cent), Metal index (0.47 per cent) and Healthcare index (0.23 per cent).

However, Capital Goods, IT, Consumer Durables, Teck, Auto, Power, Realty and Banking indices ended higher.

Meanwhile, provisional data showed that Foreign Portfolio Investors (FPIs) sold shares worth net Rs. 771.55 crore last Friday.

Sensex trims its initial losses, down 41 points

The S&P BSE benchmark Sensex trimmed its initial losses but was quoted still lower by 41 points in the late morning trade due to selling in Banking and FMCG sectors despite buying in Capital Goods, Consumer Durable and IT sectors. 

The sensex opened lower at 29,143.63 and dropped further to 29,024.92 on weak Asian cues coupled with foreign capital outflows before quoting at 29,142.45 at 1100 hrs, still showing a loss of 40.50 points or 0.14 per cent from its last weekend’s level. 

The 50-share Nifty also moved down by 6.95 points or 0.08 per cent to 8,801.95 at 1100hrs.

Major losers were Dr. Reddy’s Lab (2.42%), Coal India (2.24%), HUL (1.97%), Bajaj Auto (1.92%), ICICI Bank (1.70%), Bharti Airtel (1.68%), HDFC Bank (1.25%) and ITC (1.25%). 

However, Sun Pharma at 2.45 per cent, Hindalco 2.11 per cent, Maruti 2.11 per cent, Wipro 1.73 per cent, Larsen 1.53 per cent, M&M 1.50 per cent and Cipla 1.26 per cent showed a rise.

Foreign portfolio investors sold shares worth a net Rs. 771.55 crore on last Friday as per provisional data. 

Asian equity markets were trading lower as data showing China’s manufacturing sector remaining in a poor state dampened investors’ spirit. Key indices in China, Hong Kong, Japan, South Korea, and Indonesia were off 0.11 per cent to 1.16 per cent while indices in Taiwan and Singapore were up 0.09 per cent to 0.54 per cent.