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Close: Markets regain from budget day drop

Close: Markets regain from budget day drop
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First Published: Tue, Jul 07 2009. 05 02 PM IST
Updated: Tue, Jul 07 2009. 05 02 PM IST
New Delhi: Market ended in the green after showing signs of instability during Tuesday’s trading session. But stocks managed to regain from Monday’s heavy losses caused by lack of any aggressive economic reforms in the Union Budget 2009-2010.
The Bombay Stock Exchange benchmark Sensex started the day positive, rebounding by 1%, but despite firm start, investors were careful after yesterday’s fall. However, markets pared some of its gains during early trading on concerns for huge budget deficit.
Among sectors, most of the buying was witnessed in auto, FMCG, capital goods, power and pharma. However, PSU and oil & gas stocks witnessed most of selling.
The 30-share benchmark Sensex closed higher by 127.05 points or 0.90% up at 14,170.45 and the 50-share NSE Nifty ended up by 36.45 points at 4,202.15.
Buoyed by budget ITC Ltd was top gainer at the BSE, gaining by 6.77% to Rs211.20, Jaiprakash Associates by 6.65% to Rs205.95, Hero Honda Motors by 5.80% to Rs1,437.50, Mahindra & Mahindra Ltd by 5.64% to Rs750.45, ACC Ltd by 5.34% to Rs762.45 and Grasim Industries by 5.19% to Rs2,416.50.
Among losers heavyweight Reliance fell by 2.02% to Rs1,855.35, ONGC Ltd by 1.91% to Rs1,049.95, Reliance Communications by 1.93% to Rs264.75, Tata Motors by 1.24% to Rs279.85, Infosys Technologies by 1.18% to Rs1,739.20 and State Bank of India by 1.13% to Rs1,636.35.
On the global markets front, the Asian markets ended mostly lower as weaker metal and oil prices pulled commodity and shipping related stocks. Japan’s Nikkei ended 0.3% down and Hong Kong’s Hang Seng fell by 0.65%.
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First Published: Tue, Jul 07 2009. 05 02 PM IST
More Topics: India | Stocks | Markets | BSE | NSE |