Mumbai: Indian equity benchmarks closed the mahurat trading session of Samavat 2068 with moderate gains, helped by capital goods, FMCG, metal and select banks stocks. But, the broader indices outperformed benchmarks quite nicely. The 30-share BSE Sensex rose just 33.97 points, to close at 17,288.83. The 50-share NSE Nifty closed above the 5,200 mark for the first time since August 5, which gained 10.20 points, to end at 5,201.80.
Heavyweights L&T, SBI and Bharti Airtel jumped 1-1.4 per cent. ITC, HDFC Bank, HUL, BHEL, Cipla, Hero Motocorp, Coal India, Sterlite, Sun Pharma and Tata Motors gained 0.5-1 per cent.
Hindalco has maintained its top position in the buying list, rising 2.2 per cent.
However, the sell-off in technology and oil & gas stocks has limited the upside.
Reliance Industries and ONGC fell 0.2 per cent each. TCS, Wipro and Infosys declined between 0.3 per cent and 1.25 per cent. ICICI Bank too lost 0.6 per cent.
The broader indices like BSE Midcap and Smallcap ended 1 per cent higher.
Globally, every market is waiting for the European Union Summit on Wednesday evening (8 pm) to get some indication of the health of euro zone. However, Moorah Choudhry, head of business- GBM Treasury at RBS doesn’t believe there is going to be a final agreement on the same.
"We will get some agreement on what the final size of the expanded European financial stability facility (EFSF) might be on the measures taken to recapitalize banks in the event of a Greek sovereign default," he explained in an interview to CNBC-TV18.
European markets were marginally higher at the time of closing of Indian equities. France's CAC, Germany's DAX and Britain's FTSE moved up between 0.3 per cent and 0.65 per cent. The Dow Jones Futures gained 70 points, pointing positive opening on Wednesday.
The US equity markets on Tuesday fell 1.7-2.3 per cent on doubts over decision in the EU meet.
At 17:20 hours IST : Samavat 2068: Sensex trades with moderate gains
The BSE benchmark was trading with moderate gains on the day of Samavat 2068, supported by capital goods, FMCG and auto stocks. Heavyweights SBI and Bharti too were quite supportive. Global markets look optimistic ahead of the European Union Summit on Wednesday at 8 pm. The 30-share BSE Sensex rose 48 points to 17,302.95 and the 50-share NSE Nifty gained 13 points to 5,204.65.
The Nifty November futures were trading with 27 points premium on first day of series.
Among the largecaps, L&T, SBI, Bharti Airtel, Sterlite, BHEL, Tata Motors and Coal India moved up 1-1.5 per cent. Hindalco was the biggest gainer, rising 2.7 per cent.
ITC, HDFC Bank, HUL, Hero Motocorp, Maruti and NTPC rose 0.4-0.9 per cent.
However, the selling in Infosys, ICICI Bank, ONGC, Wipro and Reliance Industries has limited the upside.
WWIL, Moser Baer and DB Realty rallied 4 per cent each.
On the global front, European markets like France's CAC, Germany's DAX and Britain's FTSE rose 0.3-0.5 per cent. Even the Dow Jones futures gained 75 points.
At 16:49 hours IST : Samavat 2068: Nifty holds 5200; FMCG, capital goods up
The NSE benchmark started the trade above the 5200 mark on the Samavat 2068, led by FMCG, auto, capital goods, metal and select banks stocks. The 30-share BSE Sensex moved up 68 points to 17,323.44 and the 50-share NSE Nifty rose 19 points to 5,210.45.
Among frontliners, Sterlite, Bharti Airtel, SBI, Axis Bank, Hero Motocorp, BHEL, Coal India and Cipla were leading the markets on Wednesday.
However, Sesa Goa, ICICI Bank, M&M and Infosys were on sellers' radar.
The CNX Midcap Index went up 50 points to 7,060.
Jaypee Infra, Delta Corp and Titan Industries gained 1-3 per cent.
Bajaj Hindusthan and Shree Renuka Sugars were up 1 per cent while Balrampur Chini fell 2 per cent.
SREI Infrastructure up 1 per cent. AP Paper rallied 5 per cent. TV18 Broadcast rose 3 per cent.
Global cues
European markets were trading flat ahead of EU Summit for solution to debt crisis.
Asian markets closed higher. However, only Nikkei ended lower.
The US equity markets ended sharply lower on Tuesday on doubts over solution to the European debt crisis in the today's EU meet.
The Dow Jones industrial average lost 205.18 points, or 1.72 per cent, to 11,708.44. The Standard & Poor's 500 Index fell 24.96 points, or 1.99 per cent, to 1,229.23. The Nasdaq Composite Index dropped 61.02 points, or 2.26 per cent, to 2,638.42.
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