Sensex ends higher, bank stocks recover

Sensex ends higher, bank stocks recover”

The Sensex touched a high of 28,456.18 points and a low of 28,286.80 points during the intra-day trade.

The 30-share barometer opened a shade higher and rose further before profit-booking kicked in, but settled at 28,335.16, a loss of 104.12 points, or 0.37 per cent.

The key indices traded on a flat note - marginally in the green - as healthy buying was witnessed in banking, IT and consumer durables stocks.

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The BSE market breadth was slightly tilted in favour of the bulls - with 1,357 advances and 1,332 declines. The BSE's benchmark index climbed up 0.39 per cent to 28,441 in its opening session.

On the currency front, Dhruv Desai, Director and Chief Operating Officer of Tradebulls, said: "Volatile USD/INR futures prices brought volatility in Indian equity market as well". After the policy announcement, the BSE Sensex crashed over 100 points and was trading 120 points below the red line while the NSE Nifty was down 31 points.

The rupee today soared by 34 paise to end at a fresh 3-month high of 66.85 against the United States dollar on frantic selling of the American currency by exporters and banks.

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However, Cipla rose by 1.62 per cent, Wipro 1.33 per cent, Tata Motors 1.30 per cent, M&M 1.20 per cent, GAIL 1.09 per cent and TCS 1.08 per cent.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 449.52 crore yesterday, as per provisional data.

On the other hand, ITC (1.03%), Axis Bank (0.79%), Dr Reddy'S Laboratories (0.70%), Infosys (0.66%), Housing Development Finance Corporation (0.46%), and ICICI Bank (0.36%) were the biggest losers in the Sensex.

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