Mumbai Aug 14 (IANS) After five consecutive sessions of losses the key Indian equity indices on Monday recovered from their five-week lows on the back of broadly positive global cues coupled with healthy buying in metals consumer durables and capital goods stocks.
The Nifty50 of the National Stock Exchange (NSE) reclaimed the psychologically important 9 800-level intra-day by touching a high of 9 818.30 points.
However on a closing basis the Nifty50 could not hold that level and closed at 9 794.15 points -- up 83.35 points or 0.86 per cent from its previous session s close.
The 30-scrip Sensitive Index (Sensex) of the BSE which opened at 31 299.52 points closed at 31 449.03 points -- up 235.44 points or 0.75 per cent from its previous close at 31 213.59 points.
The Sensex touched a high of 31 526.40 points and a low of 31 298.90 points during the intra-day trade.
The BSE market breadth was bullish with 1 874 advances and 695 declines.
The broader market indices outperformed the benchmark indices. The S&P BSE mid-cap index rose by 2.49 per cent and the small-cap index by 2.48 per cent.
"Nifty rose today after showing a steep decline in the last four sessions and closed the day higher by around 83 points. After opening with an upside gap of around 40 points today Nifty continued to rise gradually for the better part of the session " Deepak Jasani Head of Retail Research HDFC Securities told IANS.
"Minor intra-day profit booking was observed during the latter part of the session. Asian markets closed with a mixed trend while European indices like CAC 40 and FTSE 100 traded in the positive " he added.
On the currency front the rupee closed on a flat note at 64.12 to a US dollar.
In investments provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrips worth Rs 1 638.83 crore while domestic institutional investors (DIIs) purchased stocks worth Rs 1 619.17 crore.
"Benchmark indices rebounded to end over 0.5 per cent higher on opening of the week snapping a five-day losing run after weak US inflation data dampened prospects of a rate hike this year lifting sentiment across global markets " said Dhruv Desai Director and Chief Operating Officer of Tradebulls.
"Back home investors reacted to July Wholesale Price Index (WPI)-based inflation data which surged to 1.8 per cent from 0.9 per cent reported in June. Asian stocks bounced back after three losing sessions although broader sentiment was tempered by continued tensions between the United States and North Korea " Desai added.
All the sub-indices on the BSE ended in the green barring the IT index which fell by 57.64 points and the Teck (technology media and entertainment) index by 22.88 points.
The S&P BSE metal index augmented by 433.49 points followed by the consumer durables index by 432.96 points and the capital goods index by 349.96 points.
Major Sensex gainers on Monday were: Cipla up 5.03 per cent at Rs 570; Sun Pharma up 4.70 per cent at Rs 472.50; Tata Steel up 4.21 per cent at Rs 621.25; Adani Ports up 3.07 per cent at Rs 395.70; and Hero MotoCorp up 2.85 per cent at Rs 3 954.15.
Major Sensex losers were: Bharti Airtel down 1.47 per cent at Rs 408.55; Tata Consultancy Services down 1 per cent at Rs 2 469.15; State Bank of India down 0.93 per cent at Rs 278.05; Kotak Bank down 0.87 per cent at Rs 982.45; and Infosys down 0.84 per cent at Rs 979.45.
--IANS
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