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Home > News > India News > Article > Sensex closes up 47 points

Sensex closes up 47 points

Updated on: 24 March,2009 05:37 PM IST  | 
PTI |

The Bombay Stock Exchange benchmark Sensex on Tuesday fell from the day's high to end with a moderate gain of over 47 points as funds indulged in booking profits at existing higher levels amid weak opening at European bourses.

Sensex closes up 47 points

The Bombay Stock Exchange benchmark Sensex on Tuesday fell from the day's high to end with a moderate gain of over 47 points as funds indulged in booking profits at existing higher levels amid weak opening at European bourses.


The Sensex, which surged nearly 274 points during the day, attracted profit-booking and ended at 9,471.04, still higher by 47.02 points. The market had gained 457 points in the previous day's trading.


However, the 50-share National Stock Exchange index Nifty also moved in similar fashion and closed with a moderate loss of 1.20 points at 2,938.70, after touching the day's high of 3,017.40 point.


Key benchmark indices were sharply off the higher levels as political uncertainty ahead of the general elections and lower US index futures prompted traders to lock in gains after a recent solid surge in Wall Street last evening.

European stocks gave up gains to turn negative early today, breaking a three-day winning streak after the euro zone and UK macro data showed job losses and higher inflation in Europe.

Brokers said a plunge was expected after the markets had surged dramatically and more falls are awaited ahead of the expiry of the current month's derivatives on Thursday.

They said a steep fall in front-runners and heavy-weight shares in metals, consumer durables and IT mainly pulled down the market.

The fall after midsession was partly checked by firming shares in banking, realty and capital goods and saved the market from ending in the red, traders said.

The banking sector index gained 2.18 per cent to 2,4419.67 on expectations that lower interest rates might boost lending growth.
In the Sensex kitty, HDFC Bank and ICICI Bank were major gainers.

The realty sector index rose by 0.85 to 1,591.07, the capital goods index by 0.78 per cent to 5,984.39, the FMCG index by 0.27 per cent to 1,967.29 and the auto index by 0.05 percent to 2,900.28.

Elsewhere, the metal sector index suffered the most, falling 2.99 per cent to 5,425.27, as Tata Steel, SAIL and Hindalco tumbled on aggressive selling after reports of weaker trends in overseas metal markets.

The consumer durable index fell by 1.45 per cent to 1,537.22, the PSU index by 0.81 per cent to 5,145.48, the healthcare index by 0.62 per cent to 2,636.16, the IT sector index by 0.38 per cent to 2,263.00, the power index by 0.28 per cent to 1,780.53, the Teck index by 0.15 to 1,804.15 and oil and the gas index by 0.04 to 6,772.83.

With selling pressure building up, the smallcap index fell by 0.68 per cent to 3,155.45 and the midcap index by 0.58 per cent to 2,820.08.

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