Mumbai April 26 (IANS) Amid volatility on derivatives expiry the key Indian equity indices on Thursday closed with appreciable gains as broadly positive global markets along with healthy quarterly results and value buying boosted investors sentiments.
According to market observers the benchmark indices edged higher towards the closing hour of trade on the back of healthy buying in banking IT and fast moving consumer goods (FMCG) stocks.
Index-wise the wider Nifty50 of the National Stock Exchange (NSE) closed higher by 47.25 points or 0.45 per cent at 10 617.80 points.
Similarly the barometer 30-scrip Sensitive Index (Sensex) of the BSE made gains on Thursday. It opened at 34 532.95 points closed at 34 713.60 points -- up 212.33 points or 0.62 per cent -- from its previous session s close.
The Sensex touched a high of 34 747.97 points and a low of 34 505.62 points during the intra-day trade.
However the BSE market breadth was bearish with 1 539 declines and 1 094 advances. On the NSE too the market breadth was bearish.
In the broader markets the S&P BSE mid-cap index closed lower by 0.02 per cent whereas the small-cap index rose by 0.25 per cent.
"Markets surged higher on Thursday as buying emerged in the last half an hour of trade on the back of the derivatives expiry of the April 2018 series " Deepak Jasani Head Retail Research HDFC Securities told IANS.
"The session was slightly volatile as traders rolled over F&O (futures and options) positions from the near month April 2018 series to May 2018 series."
Vinod Nair Head of Research Geojit Financial Services said: "Market remained rangebound during most part of the day due to F&O expiry but better results from banks and improving sentiment on IT stocks lifted the index."
"Continued outflow of foreign money and surging oil prices added pressure on rupee and inflation trajectory " he added.
On the currency front the Indian rupee strengthened by 15 paise to 66.76 against the US dollar from its previous close at 66.91.
In terms of investments provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 1 056.34 crore while the domestic institutional investors purchased stocks worth Rs 684.11 crore.
Sector-wise the S&P BSE banking index surged by 237.74 points followed by the IT index by 156.90 points and FMCG index by 137.25 points.
On the other hand the S&P BSE capital goods index fell by 96.72 points the telecom index by 34.25 points and the healthcare index by 21.14 points.
The major gainers on the Sensex were Yes Bank up 8.26 per cent at Rs 352.05; Hindustan Unilever up 2.17 per cent at Rs 1 491.25; Tata Consultancy Services (TCS) up 2.09 per cent at Rs 3 540.35; IndusInd Bank up 1.62 per cent at Rs 1 879.45; and ITC up 1.61 per cent at Rs 278.30 per share.
The top losers were Bharti Airtel down 2.61 per cent at Rs 408.85; Dr. Reddy s Lab down 2.09 per cent at Rs 2 080.40; Wipro down 2.00 per cent at Rs 281.45; State Bank of India down 1.71 per cent at Rs 233.35; and Tata Steel down 1.22 per cent at Rs 579.05 per share.
--IANS
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