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Sensex recovers, closes 165 points up on value buying (Roundup)

Maharashtra,Business/Economy, Fri, 23 Mar 2012 IANS
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Mumbai, March 23 (IANS) Amid volatile trade, a benchmark index for Indian equities markets Friday closed 165 points higher, led by buying in recently battered stocks. Global cues were, however, in the negative.

 

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,257.72 points, closed at 17,361.74 points, up 165.27 points or 0.96 percent compared to its previous close at 17,196.47 points.

 

The Sensex had fallen by a huge 405 points Thursday as anxiety built up that high fuel prices and a fall in the rupee could result in greater economic uncertainty in the country leading to a selling spree in equities.

 

The 50-scrip S&P CNX Nifty of the National Stock Exchange also closed in the green at 5,278.20 points, up 49.75 points or 0.95 percent from its previous close.

 

On a weekly basis, however, the Sensex closed 0.6 percent down, while the Nifty shed 0.74 percent.

 

Broader markets were quiet too with the BSE 500 index closing 0.87 percent up. The BSE midcap index closed 0.61 percent higher while the BSE small cap index ended 0.4 percent up.

 

The market breadth was mixed with 1,470 stocks advancing, 1,431 on the decline and 121 remaining unchanged.

 

Gainers on the Sensex included Hero MotoCorp, up 4.08 percent at Rs.2,017.80; Bharti Airtel, up 3.69 percent at Rs.335.70; HDFC Bank, up 2.24 percent at Rs.513.85 and Infosys, up 1.53 percent at Rs.2,870.35.

 

Major losers included Jindal Steel, down 1.9 percent at Rs.536.15; Maruti Suzuki, down 1.68 percent at Rs.1,308.60; ONGC, down 1.26 percent at Rs.267.30 and Coal India, down 1.25 percent at Rs.334.65.

 

Asian markets were in the red as concerns over a slowdown in China's economy weighed heavy on investors.

 

The Japanese Nikkei index closed 1.14 percent lower at 10,011.47 points.

 

Hong Kong's index fell 1.11 percent and closed at 20,668.8 points, while the Chinese Shanghai Composite index shed 1.1 percent to end at 2,349.54 points.

 

European markets were trading lower.

 

Britain's FTSE 100 was down 0.39 percent at 5,822.95 points, while the German DAX was trading 0.51 percent lower at 6,945.88 points.

 

The French CAC 40 was ruling 0.74 percent down at 3,446.72 points.

 

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