Mumbai April 20 (IANS) Indian equity markets on Thursday closed in the green after five consecutive sessions of losses as strong buying support was witnessed in consumer durables automobile and capital goods stocks.
However caution prevailed over the ongoing fourth quarter results season coupled with mixed global cues and outflow of foreign funds.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 32.90 points or 0.36 per cent to 9 136.40 points.
The barometer 30-scrip sensitive index (Sensex) of the BSE which opened at 29 358.59 points closed at 29 422.39 points -- up 85.82 points or 0.29 per cent from the previous close at 29 336.57 points.
The Sensex touched a high of 29 453.06 points and a low of 29 341.68 points during the intra-day trade.
The BSE market breadth was bullish -- with 1 845 advances and 1 029 declines.
Markets ended with modest gains on Thursday as it bounced back after five sessions of losses. Broad market indices like the BSE mid-cap and small-cap indices ended with bigger gains thereby outperforming the Sensex Deepak Jasani Head - Retail Research HDFC Securities told IANS.
In terms of the broader markets the S&P BSE mid-cap index was up by 0.66 per cent while the small-cap index closed higher by 1.14 per cent.
Major Asian markets have ended on a mixed note. European indices like DAX and CAC 40 traded higher he added.
Anand James Chief Market Strategist Geojit Financial Services said: Though large caps remained sluggish mid and small-caps remained north bound after a week long consolidation attracted value buying.
IT stocks recovery amid rupee giving away some of its gains lent market support while European markets rally ahead of French presidential elections also boosted sentiments.
On the currency front the Indian rupee which opened lower by eight paise at 64.66 per dollar from its previous close of 64.58 closed the day s trade on a flat note at 64.56-57 to a greenback.
In terms of investments provisional data with the exchanges showed that the foreign institutional investors (FIIs) sold scrip worth Rs 168.84 crore while the domestic institutional investors (DIIs) purchased scrip worth Rs 8.82 crore.
According to Dhruv Desai Director and Chief Operating Officer of Tradebulls the equity benchmark index CNX Nifty extended gains in the intra-day session amid consolidation and buying support.
Strong buying was seen in tyre stocks lead by JK tyre and Apollo tyre with more than four per cent gains. Auto and cement sector stocks witnessed strong buying Desai said.
IT sector stocks extended gains in consecutive sessions lead by Techm (Tech Mahindra) and TCS (Tata Consultancy Services). Aviation sector stocks IndiGo and Jet Airways traded firm with more than six per cent intra-day gains.
Sector-wise the consumer durables index surged by 189.19 points followed by the automobile index which edged higher by 152.71 points and the capital goods index which rose by 118.85 points.
In contrast the S&P BSE banking index dipped by 130.91 points the oil and gas index slipped by 36.01 points and the healthcare index fell by 21.11 points.
Major Sensex gainers on Thursday were: Gail up 2.02 per cent at Rs 402.10; Adani Ports up 1.83 per cent at Rs 331.65; HDFC up 1.82 per cent at Rs 1 516.95; Maruti Suzuki up 1.17 per cent at Rs 6 272.80; and TCS up 1.16 per cent at Rs 2 328.35.
Major Sensex losers were: ICICI Bank down 2.90 per cent at Rs 272.80; Axis Bank down 2.26 per cent at Rs 487.95; Sun Pharma down 1.28 per cent at Rs 655.85; Power Grid down 1.21 per cent at Rs 208.60; and Coal India down 0.78 per cent at Rs 280.35.
--IANS
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Strong buying support lifts Indian equities (Roundup)
