19 January,2009 05:06 PM IST | | PTI
The Bombay Stock Exchange benchmark Sensex today ended moderately higher by six points, after swinging in a restricted range as investors showed concerns over slowing third-quarter earnings by blue-chip firms.
The Sensex, after moving between 9,409.51 and 9,273.47, closed with a small gain of 5.98 points at 9,329.57 as realty, metal and refinery stocks were up.
Similarly, the 50-share National Stock Exchange index Nifty rose 17.75 points at 2,846.20. It moved between 2,868.20 and 2,819.90 points during the day.
Every rise in stocks was encashed by major market players, which kept the barometer in a tight range. Stocks of banks, IT firms and auto companies plunged.
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Software exporters, led by Tata Consultancy Services Ltd, ended lower after the rupee strengthened against the US dollar, reducing the value of their exports.
Marketmen said major players are still not convinced about growth as there are fears of a fall in quarterly earnings by blue-chip firms.
They said metal stocks were up on rising steel prices in overseas markets while realty stocks firmed up on reports of Unitech planning to raise fresh funds and Jaiprakash Associates gained on better quarterly profits. The rupee strengthened 0.5 per cent to Rs 48.55 per dollar, they added.
The realty sector was the biggest gainer, adding 2.17 per cent to 1,761.08, as Unitech Ltd rose by 5.98 per cent to Rs 31.90 and Akruti City by 12.24 per cent to Rs 714.05.
The metals sector index was the second-best performer by rising 1.85 per cent at 5,088.04, followed by the oil and gas index by 1.46 per cent to 6,020.40 after segment major Reliance Industries shot up by Rs 11.25 at Rs 1,229.65 on reports that RIL would be ready to start producing gas from KG-D6 by next month.
The capital goods index rose by 1.32 per cent to 6,602.53, the PSU index by 0.79 per cent to 5,125.89, the power index by 0.57 per cent to 1,777.57, the teck index by 0.47 per cent to 1,817.28 and the consumer durables index by 0.12 per cent to 1,821.82. With market players indulging in selective buying, the smallcap index rose 1.13 per cent to 3,451.46 and the midcap index by 0.55 per cent to 3,043.53.
However, the market was pulled down after every surge as shares in banking, IT, healthcare, auto and FMCG fell on profit selling.
The banking index dropped 0.97 per cent to 4,989.12, the IT index by 0.75 per cent to 2,168.57, the healthcare index by 0.48 to 2,838.65, the auto index by 0.38 per cent to 2,542.44 and the FMCG index by 0.23 per cent to 1,975.69.
