Home ECONOMY Sensex closes 271 points up; capital goods stocks rise

Sensex closes 271 points up; capital goods stocks rise

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Mumbai, Feb 12:

Ahead of the release of crucial inflation data, a benchmark index of Indian equities markets closed Thursday’s trade up 271 points or 0.95 percent.

Sensex UpThe government will release consumer price index (CPI) data around 5.00 p.m Thursday. The data assumes significance as it gives a directional sense of whether or not the apex bank will cut key interest rates.

According to market analysts, positive European cues were also helped the market to recover from the lower levels.

Healthy buying was observed in interest sensitive stocks like capital goods, automobile, healthcare, bank and information technology (IT). However, fast moving consumer goods (FMCG) scrip came under heavy selling pressure.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 28,650.25 points, closed the day’s trade at 28,805.10 points, up 271.13 points or 0.95 percent from the previous day’s close at 28,533.97 points.

The Sensex touched a high of 28,838.52 points and a low of 28,406.25 points in the intra-day trade.

“Market has moved ahead from poor Q3 numbers and Greek concerns. It is looking at what will be the next reform and the expectation is very high,” said Vinod Nair, head-fundamental research, Geojit BNP Paribas Financial Services.

“Apart from the nitty-gritty, government should target to push to improve investment cycle, PSUB funding and impetus to “Make in India”,” Nair added.

The S&P BSE capital goods index surged by 382.84 points, followed by automobile index which was up 280.59 points, healthcare index was higher by 259.36 points, bank index increased by 208.23 points and IT index rose 120.69 points.

However, S&P BSE FMCG index was down 13.18 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also made gains in the day’s trade. It was up 84.15 points or 0.98 percent at 8,711.55 points.

The major Sensex gainers were: DrReddy’s Lab, up 5.49 percent at Rs.3,327.50; BHEL, up 4.98 percent at Rs.267.90; Cipla, up 4.07 percent at Rs.662; Gail, up 3.23 percent at Rs.423 and Maruti Suzuki, up 2.51 percent at Rs.3,550.85.

The losers were: Hindustan Unilever, down 1.53 percent at Rs.887.55; Bajaj Auto, down 1.37 percent at Rs.2,260.65; Bharti Airtel, down 1.01 percent at Rs.352.70; Coal India, down 0.78 percent at Rs.368.75 and State Bank of India (SBI), down 0.56 percent at Rs.284.40. IANS