Stock market remain cautious; Sensex up 111 points

The Indian stock market remains cautious amid concerns over outcome of Lok Sabha polls even as the BSE Sensex on Monday advanced further by 111.66 to close at 72,776.13 due to buying in the last couple of hours of trading.

The BSE Sensex at one time during the intra-day had tanked nearly 800 points to 71866 before it recovered following gains in Capital Goods, Realty, banks and select pharmaceutical companies.

The National Stock Exchange (NSE) rose 48.85 points to close at 22,104.05. According to data available Foreign Institutional Investors (FIIs) continue to be sellers as they sold equities worth Rs 2,117 crore in the last trading session while the Domestic Institutional Investors (DIIs) bought to the tune of Rs 2,709 crore.

The 30-share Sensex opened negative at 72476.65, falling 188 points within few minutes and tanked further 798 points at 71866.01, day’s low before it recovered. According to sources in the market there is nervousness and is likely to continue till the results (Lok Sabha polls) are announced. Even the fourth quarter results have failed to enthuse the market.

In 30 sensex scrips, 17 advanced while 13 declined. The Mid Cap gained 0.36 per cent while small Cap fell by 0.23 per cent. All indices closed in the green today.

The gainers were Asian Paints by 3.69 per cent to Rs 2875, Sun Pharma by 1.58 percent to Rs 1530, HDFC bank by 1.38 per cent to Rs 1457.40, TCS by 1.24 per cent to Rs 3944 and Axis bank by 1.17 per cent to Rs 1133.

The losers were Tata Motors by 8.32 per cent to Rs 959.80, NTPC by 1.18 er cent to Rs 351.50, Bharti Airtel by 1.12 per cent to Rs 1288 and Titan by 1.10 per cent to Rs 3255. (UNI)<>