Sensex ends losing streak; banking, realty scrips gain


Mumbai : A benchmark index for Indian equities Tuesday ended its five-day losing streak, buoyed by a lower-than-expected rate hike by the central bank.

Support TwoCircles

Interest rate-sensitive stocks from realty and banking space gained during the day, after the Reserve Bank of India hiked the repurchase (repo) rate, the reverse repo rate and the cash reserve ratio by 25 basis points each. Most analysts had expected a 50 basis point increase in the annual policy statement for 2010-11.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,394.68 points, ended at 17,460.58 points, up 59.90 points or 0.34 percent.

The Sensex had risen to 17,560.09 points, about 0.91 percent higher than its last close, after the RBI decision.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty followed a similar trajectory and ended trade at 5,230.1 points against the previous close at 5,203.65 points, a gain of 26.45 points or 0.51 percent.

Medium-to-small sized scrips did better with the BSE midcap index closing 1.39 percent higher and the BSE small cap index ending 1.58 percent up.

Top gainers on the 30-scrip Sensex were SBI, up 3.26 percent at Rs.2,098.05; DLF, up 3.18 percent at Rs.326.35; Reliance Infra, up 2.67 percent at Rs.1,117.45; and Tata Motors, up 2.13 percent at Rs.792.

Major losers included TCS, down 2.74 percent at Rs.789.60; Hero Honda, down 2.39 percent at Rs.1,851.65; Wipro, down 1.27 percent at Rs.694.70; and Infosys, down 0.99 percent at Rs.2,724.90.

Other Asian markets ended on a mixed note.

While Hong Kong’s Hang Seng closed 1.02 percent higher at 21,623.38 points, the Chinese Shanghai composite index ended flat at 2,979.53 points.

The South Korean Kospi closed 0.75 percent up at 1,718.03 points, while the Japanese Nikkei shut shop marginally in the red at 10,900.68 points — down 0.07 percent.

European markets were ruling in the green at the time of closing bell here.

The FTSE 100, the benchmark index of the London Stock Exchange, was ruling at 5,769.73 points, up 0.73 percent, while its German peer, DAX, was trading 1.29 percent higher at 6,241.85 points.

The French CAC 40 index was up 1.15 percent at 4,016.28 points.