By IANS,
Mumbai: A benchmark index of the Indian equities markets ended a four-day fall, reversing its intra-day losses Wednesday to close 87 points higher, even as a Chinese monetary policy change resulted in the weakening of major Asian and European markets.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,368.03 points, ended at 17,509.8 points, up 87.29 points or 0.5 percent from its previous close at 17,422.51 points.
IT companies Infosys and TCS supported the Sensex rise, with both scrips hitting an all-time high.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty, ended at 5,233.95 points against the previous close at 5,210.4 points, a gain of 0.45 percent.
Broader market indices also recouped, with the BSE midcap index up 0.6 percent and the BSE small cap index ending 0.86 percent higher.
The market breadth was positive, with 1,692 stocks advancing, compared to 1,195 declining and 82 remaining unchanged.
Among the top gainers at this time were ACC, up 5.31 percent at Rs.946.65; TCS, up 5.23 percent at Rs.788.25; Infosys, up 3.82 percent at Rs.2,686.25; and Wipro, up 3.02 percent at Rs.715.50.
Among top Sensex losers were Mahindra and Mahindra, down 2.91 percent at Rs.1,154.70; Sun Pharma, down 1.53 percent at Rs.1,549.05, Sterlite, down 1.48 percent at Rs.862.70; and SBI, down 1.15 percent at Rs.2,177.85.
Selling pressure engulfed other Asian markets as well after the People’s Bank of China tightened monetary policy rates and raised the reserve requirements of banks, with an aim to normalise monetary policy and avoid any asset bubbles.
The Chinese Shanghai composite index closed 3.09 percent lower at 3,172.66 points, while the benchmark Japanese index, Nikkei, ended 1.32 percent lower at 10,735.03 points.
Similarly, the Hang Seng of the Hong Kong Stock Exchange closed 2.59 percent lower at 21,748.6 points, and the Korean Kospi shut shop 1.6 percent lower at 1,671.41.
China’s move had a ripple effect on European markets as well, which started trade on a weak note.
The FTSE 100 index, the benchmark index of the London Stock Exchange, was ruling 0.29 percent down at 5,482.85 points, while the French index, CAC 40, was down 0.13 percent at 3,994.89 points.
However, its German peer, the DAX, was ruling 0.24 percent higher at 5,957.37 points.