Sensex snaps 4-day losing run;up 30 pts

Mumbai, May 25: Rising for the first time this week, the BSE benchmark Sensex on Friday rose by 30 points, boosted by a 5 pc jump in Tata Steel and gains in fundamentally strong stocks led by consumer durable  and metals.

The 30-share index commenced the day on a strong note at 19,813.72 but fell to a low of 19,571.91 intra-day before settling 30 points, or 0.15 percent, higher at 19,704.33. It had lost 2.8 percent in the first four days of this week.

Similarly, the broad-based National Stock Exchange index, Nifty, closed higher by 16.50 points, or 0.28 percent, at 5,983.55.

However, the MCX-SX flagship index SX40 closed marginally lower by 1.17 points, or 0.01 percent, at 11,681.13.

Brokers said sentiment turned better on emergence of short covering positions created in the recent bear phase.

The market remained volatile amid mixed trend in the global markets as investors awaited data on US durable goods orders in April.

Alloy major Tata Steel surged 4.56 percent to Rs 313.15 even as the company reported a consolidated net loss of Rs 6,528.51 crore for the quarter ended March, 2013.

Half of the 30 shares of Sensex ended higher, led by Tata Steel, Tata Power and Larsen Toubro rising 4.56 percent, 3.75 percent and 2.70 percent, respectively.

The consumer durables sector index gained the most by rising 1.86 percent to 7,433.09 followed by capital goods index by 1.61 percent to 9,589.01.

Metal index rose by 1.61 percent to 8,657.35 and banking index by 0.96 percent to 14,591.54.

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Courtesy:ISTV Imphal


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