Some positive signs

STOCKS REPORT

Snapping a four-day losing streak on renewed buying in auto, cement and steel counters, the benchmark Bombay Stock Exchange (BSE) Sensex closed in positive territory on Tuesday.

The Sensex closed 0.64 per cent higher at 5,734.44 points. Moving in an intra-day range of 142 points, bargain hunting in blue chips helped the market end with gains after an extremely volatile trading session. The broader National Stock Exchange (NSE) Nifty closed with a gain of 13.15 points at 1,821.35.

Players indicated concerns about liquidity ahead of large public issues as a reason for the volatility. The breadth of market was negative, with losers outnumbering gainers 911:742. Cash market turnover at the BSE was at Rs 2,890.15 crore and at the NSE was at Rs 6,138.75 crore.

The Sensex opened weak witnessing selling pressure but bargain hunting in select stocks at lower levels lifted the Sensex.

Selling once again dragged the Sensex into negative territory. Good buying interest in blue chips in the last half an hour's trade helped the Sensex close in positive territory.

Foreign institutional investors (FIIs) were net sellers of Indian shares at Rs 168.10 crore on Monday but have brought in Rs 2,944.60 crore into Indian markets in February so far.

Heavyweights State Bank of India was up 3.31 per cent at Rs 607.15, ITC was up 2.15 per cent at Rs 1,114.30.