Sensex rises 66 pts to 1-week high; metal, pharma shares shine

The Sensex today gained for the fourth day and closed 66 points up at its highest level in a week helped by rise in metal and pharma shares while some investors turned cautious ahead of advance growth estimates.
Traders said positive global cues on hopes of better US jobs data and mild capital inflows from foreign funds, also aided the BSE benchmark to continue its winning streak.
The index resumed higher at 20,441.04 and firmed up to 20,450.51 on intial buying. However, it fell afterwards to 20,282.30 on selling pressure before recovering to end at 20,376.56 -- a gain of 65.82 points or 0.32 per cent over Thursday. This is its best close since January 31, 2013.

Helped by inflows and value-buying, the Sensex is up 167.30 points in 4 days but down 137 points on a weekly basis.
"Markets remained volatile today amongst the expectations that government would lower GDP growth estimates...US jobs data and any surprises on growth estimates would be key triggers going forward," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio Limited.
The results of US jobs data and any surprises on GDP growth estimate today evening would be key triggers for the domestic markets going forward, he added.

Twenty stocks gained in the 30-share BSE benchmark. Tata Steel, Sesa Sterlite, Sun Pharma and Cipla were among winners. The ten laggards included TCS, HUL, Wipro, BHEL and ITC.

The NSE 50-share Nifty moved up further by 26.90 or 0.45 per cent to finish at 6,063.20 -- its third straight rise. Today was also its highest close since 6,089.50 on January 31.
Foreign Institutional Investors (FIIs) bought shares worth Rs 10.75 crore yesterday. This ends the selling spree by overseas investors in the previous few sessions, brokers said.
Globally, Asian stocks ended higher as US jobless claims fell and investors weighed company earnings. Key benchmark indices in China, Hong Kong, Japan, Singpaore, South Korea and Taiwan firmed up in 0.56-2.12 per cent range.
Europe was trading higher as investors digested the latest round of earnings reports and also waited for the highly anticipated US nonfarm-payrolls report due later in the day.