Mumbai Oct 17 (IANS) Even as the general investors sentiments were subdued on Tuesday the key Indian equity index -- the NSE Nifty50 -- made marginal gains to close at a new high.
According to market observers low volumes and profit booking subdued investors sentiments -- however expectations of healthy quarterly results aided the key indices in paring some of their losses.
On a closing basis the wider Nifty50 of the National Stock Exchange (NSE) inched up by 3.60 points or 0.04 per cent to close at a new high of 10 234.45 points.
However the 30-scrip Sensitive Index (Sensex) of the BSE closed on a negative note ending at 32 609.16 points lower by 24.48 points or 0.08 per cent from Monday s close at 32 633.64 points.
In terms of the broader markets the S&P BSE mid-cap index rose by 0.40 per cent and the small-cap index gained 0.53 per cent.
On Monday better-than-expected macroeconomic data pushed the key Indian equity indices to close at record highs. The NSE Nifty50 had gained 63.40 points or 0.62 per cent to end at 10 230.85 points while the Sensex of the BSE closed higher by 200.95 points or 0.62 per cent to 32 432.69 points.
"Markets ended flat on Tuesday as they traded in a narrow range. Trading sentiment seemed to be subdued ahead of a long Diwali weekend " Deepak Jasani Head - Retail Research HDFC Securities told IANS.
"Major Asian markets have ended on a mixed note. European indices like FTSE 100 and DAX traded higher."
Anand James Chief Market Strategist Geojit Financial Services said: "Earnings positivity helped to maintain gains but headaches over Korea as well as valuation fears characteristic to bull market rallies ensured that sharp gains were limited to few stocks especially as investors profit booking was seen in the index heavy weights eyeing the long weekend."
On the currency front the rupee weakened by 30 paise to close at 65.02 against the US dollar from its previous close at 64.72.
According to Dhruv Desai Director and Chief Operating Officer of Tradebulls the benchmark indices snapped a three-session long gaining spree as it tracked mixed trends in global markets.
"Most of the sectoral indices traded in the positive territory except for consumer durables bankex and IT index " Desai told IANS.
Sector-wise the S&P BSE oil and gas index surged by 116.18 points followed by capital goods index by 75.21 points and healthcare index by 53.78 points.
On the other hand the S&P BSE banking index fell by 66.74 points consumer durables index by 36.88 points and IT index by 25.49 points.
Major Sensex gainers on Tuesday were: Cipla up 4.09 per cent at Rs 631.25; Bharti Airtel up 2.86 per cent at Rs 465.95; Asian Paints up 2.06 per cent at Rs 1 194.40; Bajaj Auto up 1.09 per cent at Rs 3 257; and Hero MotoCorp up 0.85 per cent at Rs 3 806.
Major Sensex losers were: Axis Bank down 1.44 per cent at Rs 513.20; Tata Motors down 1.04 per cent at Rs 432; Infosys down 0.84 per cent at Rs 931.45; Dr. Reddy s Lab down 0.62 per cent at Rs 2 382.35; and State Bank of India down 0.44 per cent at Rs 251.15.
--IANS
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