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Sensex ends 82 points up, but below 25,000, Nifty holds 7,600

The headline indices gained tracking positive trend seen in Asian markets as Chinese shares rallied in volatile trading after the government suspended the stock market "circuit breaker" mechanism.

BT Online | January 11, 2016 | Updated 09:18 IST
Sensex ends 82 points up, but below 25,000, Nifty holds 7,600
Market breadth turned positive with 17 of the 30 Sensex components ending the day in green. Photo: Reuters

Snapping four-day long losing streak, the S&P BSE Sensex rose 82 points, but ended below its crucial psychological level of 25,000 in trade on Friday, while broader CNX Nifty closed just a tad above its key support level of 7,600.

The headline indices gained tracking positive trend seen in Asian markets as Chinese shares rallied in volatile trading after the government suspended the stock market "circuit breaker" mechanism and the central bank moved to stabilize the yuan with its reference rate.

The 30-share index ended at 24,934.33, up 82.50 points, while broad-based 50-share index quoted 7,601.35, up 33.05 points at close.

Market breadth turned positive with 17 of the 30 Sensex components ending the day in green.

Tata Motors was the best performer on Sensex and gained over 3 per cent.

The domestic markets fell more than 2 per cent on Thursday, hitting its lowest level in over one-and-a-half years after China accelerated the depreciation of the yuan, triggering a domino effect in global equity and currency markets.

The gains will help soothe frayed nerves back home going into earnings season next week when Tata Consultancy Services and Infosys report quarterly results.

"Next week we have numbers (corporate earnings) coming in thick and thin so markets will look for cues from there," Gaurang Shah, vice president at Geojit BNP Paribas said.

Among Asian markets, China's Shanghai Composite settled 1.97 per cent up, while Hong Kong's Hang Seng index gained 0.59 per cent. Japan's Nikkei bucked the trend and ended 0.39 per cent down.

Meanwhile, Dow futures wer trading over 200 points up indicating a higher opening on Wall Street.

A lowdown on markets today

12:42 pm

Sensex at 24,977.22, up 125.39 points

Nifty at 7,606.35 points, up 38.05 points

11:00 am

Sensex at 24,922.57, up 71 points

Nifty at 7,587.80, up 20 points

9:20 am

Sensex at 25,057.83, up 206.00 points

Nifty at 7,624.30 points, up 56.00 points

(With inputs from Reuters)

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