Sensex breaks 7-day losing trend, but volatility continues
Mumbai: The benchmark BSE Sensex today ended at 27,458.64, up by a marginal 1.06 points to technically snap the seven-session losing streak in a highly volatile trade amid continuing geo-political tensions.
The NSE Nifty, however, settled the day in the red at 8,341.40, ending the week on a negative note.
This is the third consecutive weekly loss for both the indices.
The 30-stock index opened on a positive note on the back of a new series for April beginning in the derivatives segment. However, it gradually slipped due to foreign capital outflows on concerns about rising tension in the Middle-East and profit-booking at every rise.
Later, it wiped off losses completely and settled the day at 27,458.64, higher by 1.06 points, or 0.10 per cent at 27,458.64.
Intra-day, it touched a high of 27,694.41 and low of 27,248.45.
In the previous seven sessions, the Sensex had lost 1,278.80 points, including 654.65 in yesterday’s session.
After moving in an erratic fashion, the 50-share NSE Nifty ended the day at 8,341.40, 0.75 point lower than its previous close.
Brokers said the first day of new monthly derivatives contract attracted buying in IT, metal, banking, auto and capital goods shares, helping the Sensex to close in the positive terrain.
Profit-taking emerged at every high level, brokers said, adding that escalating crisis in Yemen has rattled investors.
Hindalco at 2.97 per cent was the best Sensex gainer, followed by Infosys 2.68 per cent, SBI 2.59 per cent, L&T 2.50 per cent, ICICI Bank 2.23 per cent, Tata Motors 1.82 per cent, NTPC 1.29 per cent and Maruti Suzuki 1.29 per cent.
Bharti Airtel was the biggest loser of the day at a huge 5.64 per cent.
Among BSE sectoral indices, Capital Goods index rose by 1.32 per cent, followed by Banking index (1.07 per cent), IT index (0.52 per cent), Auto index (0.43 per cent) and metal index (0.11 per cent).
Foreign portfolio investors sold shares worth Rs 521.23 crores yesterday, according to provisional data.