Sensex Snaps Eight Days Rally, Ends 74 pts Down at 27,729

Sensex snaps eight days rally, ends 74.70 pts down at 27,729.67; Nifty slips 20.70 pts to 8,360.85.

11:30 am The benchmark BSE extended its gains and was up by 89 points in late morning trade led by sustained buying in healthcare, FMCG, and teck sectors.

The broader markets advanced too with the BSE mid-cap and small-cap indices rising by 0.11 to 0.24 percent.

The 50-share Nifty rose by 19.44 points 0.23 per cent to 8,401.10 at 1100 hrs.

Due to volatility, mild selling were seen in auto, banking and capital goods stocks.

The BSE Sensex resumed higher at 27,852.22 and moved in a range of 27,920.60 and 27,784.44 before quoting at 27,893.80 at 1100 hrs, a rise of 89.43 points or 0.32 per cent.

Major gainers were, HUL by 2.14 per cent, BHEL 1.84 per cent, Lupin 1.49 per cent, Sun Pharma 1.34 per cent, ITC 1.03 per cent, Vedanta 1.03 per cent and Coal India 0.98 per cent.

However, M&M eased by 0.87 per cent followed by Tata Steel 0.83 per cent, Hindalco 0.78 per cent and SBI 0.54 per cent.

Meanwhile, Foreign portfolio investors sold shares worth Rs 374.97 crore during yesterday’s trading session, as per provisional data.

Overseas, Asian markets edged higher early today, as optimism around Greece’s debt talks continues to buoy sentiment. Key indices in China, Japan, Hong Kong, Singapore, South Korea and Indonesia were up 0.03 to 0.91 per cent.

Taiwan index was down 0.08 per cent.

In New York market, US stocks ended with slight gains yesterday.

10:00 am Continuing its upward journey for the ninth consecutive day, the benchmark BSE Sensex gained over 72 points and the NSE Nifty inched towards regaining 8,400-mark in early trade on Wednesday as investors indulged in enlarging positions driven by positive domestic as well global cues.

Besides, covering up pending short positions by speculators in view of Thursday’s June month expiry in the derivatives segment, influenced sentiment.

The 30-share index was trading higher by 72.48 points or 0.26 per cent at 27,876.85 with metal, healthcare, PSU and power sector stocks leading the rise.

The barometer had rallied 1,433.39 points or 5.4 per cent in the previous eight sessions.

Also, the National Stock Exchange index Nifty inched towards the crucial 8,400-mark by rising 18.30 points or 0.21 per cent at 8,399.85.

Brokers said sustained buying by participants as above-normal monsoon reignited rate cut hopes and a firming trend at other Asian markets with Japan’s Nikkei trading at around 18-year highs on confidence. Greece will reach a last-minute debt reform deal with its creditors this week.

Among other Asian markets, Hong Kong’s Hang Seng was up by 0.15 per cent in early trade Wednesday.

The US Dow Jones Industrial Average ended 0.13 per cent higher in Tuesday’s trade.