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BSE Sensex ends losing streak with marginal gains

Brokers said the market mood was clearly choppy with participants indulging in portfolio churning ahead of the monthly derivative contract expiry.

BT Online Bureau | September 24, 2013 | Updated 17:57 IST
Sensex ends losing streak with marginal gains

The BSE Sensex snapped a two-session losing streak on Tuesday, rising marginally, on buying in capital goods, auto and power stocks in a choppy session ahead of the monthly derivative contract expiry on Thursday.

After losing 746 points in last two sessions and a lower start even on Tuesday, the 30-share index of the Bombay Stock Exchange managed to close higher by 19.25 points, or 0.10 per cent, at 19,920.21.

The gauge touched a low of 19,782.78 as banking stocks continued to remain under pressure after rating agency Moody's downgraded the senior unsecured debt and local currency deposit rating of the State Bank of India (SBI), the country's largest bank.

The broad-based National Stock Exchange index Nifty improved by 2.70 points, or 0.05 per cent to 5,892.45, after moving between 5,938.40 and 5,854.55 intra-day.

Brokers said the market mood was clearly choppy with participants indulging in portfolio churning ahead of the monthly derivative contract expiry.

Among Sensex components, 14 stocks closed with gains while 16 ended lower. The Sensex found good support from HDFC, L&T, Bajaj Auto, M&M, Tata Motors, NTPC, Tata Power and Cipla.

Sectorally, the BSE Auto sector index gained the most by rising 1.05 per cent, followed by capital goods index (1.05 per cent), Power index (0.78 per cent) and Consumer durable index (0.23 per cent).

The domestic market had slumped in the past two days after the Reserve Bank of India (RBI) surprisingly raised the repurchase rate last week for the first time in two years, raising fears of more rate hikes from the central bank.

With inputs from PTI

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