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In volatile trade, the benchmark BSE Sensex on Friday rose 33 points, mainly helped by gains in HDFC, Sesa Sterlite, Infosys and Tata Consultancy Services (TCS), amidst lack of fresh market cues.
The BSE index resumed higher on beginning of January series in the derivatives segment. It gradually started to slip due to foreign capital outflows. Later, it wiped off losses completely and settled the day at 27,241.78, a rise of 33.17 points or 0.12 per cent, breaking two days of losses.
In previous two sessions, Sensex had shed 493.18 points.
The 50-share National Stock Exchange’s Nifty after falling to the day’s low of 8,147.95 staged a strong comeback to regain the 8,200-mark to close at 8,200.70, up 26.60 points from its previous close.
“Lack of market cues both globally and domestically and liquidity drench owing to festive season in the West kept markets sideways for the day,” said Rakesh Goyal, senior vice-president, Bonanza Portfolio.
The first day of new monthly derivatives contract attracted buying in information technology, realty and metal counters which aided the Sensex to land in positive terrain at close, brokers said.
European markets and from some Asian bourse remained closed for trade on account of Christmas holidays.
Brokers said they expect fresh foreign funds to flow after on-going Christmas holidays and in the next calender year. Investors refused to take big risks ahead of the year-end holidays, they added.
Foreign portfolio investors sold shares worth a net Rs 2,808.27 crore on Wednesday, as per provisional data. Major gainers were HDFC 1.18 per cent, Sesa Sterlite one per cent, TCS 0.98 per cent, Infosys 0.83 per cent and Hindalco 0.83 per cent
“Stock specific move kept traders busy while the market breadth remained slightly on the advancing side. In line with the benchmark index, majority of sectoral indices ended flat to marginally in green in the end,” said Jayant Manglik, president, retail distribution, Religare Securities. Among BSE sectoral indices, realty rose 0.93 per cent, IT 0.85 per cent and metal 0.58 per cent.
