Mumbai July 5 (IANS) Despite trading with caution over geo-political concerns the Indian equity markets trimmed some losses on the back of healthy services sector data positive global indices and inflow of foreign funds to close marginally higher on Wednesday.
In another development during the day s trade industrialist Mukesh Ambani s Reliance Industries (RIL) overtook Tata Group s multinational IT company Tata Consultancy Services (TCS) in terms of market capitalisation.
The company s shares closed higher by 1.20 per cent at Rs 1 439.80 per share on the BSE which lifted its market capitalisation to Rs 468 160.44 crore.
The wider Nifty of the National Stock Exchange (NSE) was up by 24.30 points or 0.25 per cent to close at 9 637.60 points.
The 30-scrip Sensitive Index (Sensex) of the BSE which opened at 31 272.72 points closed the day s trade at 31 245.56 points -- up 35.77 points or 0.11 per cent from its previous close at 31 209.79 points.
It touched a high of 31 284.64 points and a low of 31 177.78 points during intra-day trade.
The BSE market breadth was bullish -- with 1 697 advances and 978 declines.
The broader market indices outperformed the Sensex. The S&P BSE mid-cap was up by 0.97 per cent and the small-cap index by 1.12 per cent.
Markets ended with modest gains on Wednesday as it continued to trade in a narrow range and consolidate. A private survey showing India s service sector expanding at its fastest pace in eight months in June and gains in most global stock markets provided support to the Sensex/Nifty Deepak Jasani Head of Retail Research HDFC Securities told IANS.
The seasonally adjusted Nikkei India Services PMI Business Activity Index released during market hours registered a higher rate of expansion at 53.1 in June from 52.2 in May.
The gains were however muted amid geopolitical concerns after North Korea launched a long-range ballistic missile. Major Asian markets have ended on a positive note barring the Jakarta index while European indices like FTSE 100 CAC 40 and DAX traded higher Jasani added.
On the currency front the rupee weakenened by five paise to 64.78-79 to a US dollar from its previous close at 64.73-74.
In investments provisional data with the exchanges showed that foreign institutional investors (FIIs) purchased stocks worth Rs 227.57 crore while domestic institutional investors (DIIs) bought scrips worth Rs 75.36 crore.
Market turnover was on the lower side compared to Tuesday. Auto metal oil and gas and healthcare sectors ended in the green while defensive sector FMCG and IT ended in the red said Dhruv Desai Director and Chief Operating Officer of Tradebulls.
Lupin gained intra-day after the company said it introduces generic vigamox ophthalmic solutions in US. RIL shares were in news today on reports of its subsidiary RIL Jio likely to launch 4G VOLTE phone at Rs 500 he added.
Sector-wise the S&P BSE automobile index rose by 167.77 points the banking index by 167.73 points and the metal index by 143.93 points.
On the other hand the S&P BSE IT index fell by 66.65 points the FMCG index by 49.36 points and the Teck (technology media and entertainment) index by 20.56 points.
Major Sensex gainers on Wednesday were: Lupin up 3.82 per cent at Rs 1 084.05; Mahindra and Mahindra up 2.24 per cent at Rs 1 385.05; ONGC up 1.69 per cent at Rs 162.65; Asian Paints up 1.58 per cent at Rs 1 126.30; and Reliance Industries up 1.20 per cent at Rs 1 439.80.
Major Sensex losers were: ITC down 1.79 per cent at Rs 331.05; Infosys down 0.98 per cent at Rs 951.05; Wipro down 0.90 per cent at Rs 257.55; HDFC down 0.67 at Rs 1 629.40; and Bharti Airtel down 0.46 per cent at Rs 377.55.
--IANS
ppg/vt
Indian equities close inches higher on global cues, healthy macro-data (Roundup)
