In volatile trade, the benchmark Sensex once again surrendered its initial gains but ended above the 9,000 mark on firm European opening, up by just 25.07 points.
In volatile trade, the benchmark Sensex once again surrendered its initial gains but ended above the 9,000 mark on firm European opening, up by just 25.07 points.
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Mirroring the positive global cues, the Bombay Stock Exchange 30-share barometer initially touched a high of 9,086.77 but fell to 8,900.39 at midsession on selling. It ended above the 9,000 mark first after February 19. It recovered at the fag end on firm European opening to end at 9,001.75, a rise of 0.28 per cent over the previous close.
The broader 50-issue Nifty of the National Stock Exchange also moved up further by 12.45 points, or 0.45 per cent, to 2,807.15 from its last close.
The markets in China and Hong Kong closed in the green while Japan, South Korea and Taiwan finished in the red, a factor that weighed on the local bourses in afternoon trade.
However, a firm European opening helped the Sensex to close better. The markets in Germany, France and the UK were up by 0.5-1.5 per cent early morning. Interest rate sensitive stocks in realty attracted good buying on expectations of more key rate cuts by the apex bank after a steep fall in inflation.
Heading towards zero, inflation fell sharply to a more than three-decade low of 0.44 per cent for the first week of March from 2.43 per cent during the week-ended February 28, giving room to the apex bank to further cut rates to spur economic growth.
However, brokers attributed the early rise to the rally on Wall Street after a surprise declaration by the US Federal Reserve that it would pump in another $1 trillion into the US ailing economy by buying long-term government debt and also purchase more mortgage and agency bonds.
On Wall Street, the Dow Jones Industrial Average and the Nasdaq Composite index ended higher by 1.23 per cent and 1.99 per cent, yesterday.
Foreign Institutional Investors (FIIs) were net buyers for the second straight day and they pumped in Rs 222.14 crore on March 18 as per provisional figures.
In the Sensex family, Sterlite firmed up by 4.18 per cent, HDFC by 2.53 per cent, Sun Pharma by 2.33 per cent, Maruti Suzuki by 1.70 per cent and TCS by 1.62 per cent.
The market breadth remained favourable - 1,354 stocks rose while 1,105 fell at close on the BSE. The business volume was relatively low at Rs 3,977.84 crore from Rs 4,148.70 crore on Wednesday. Akruti City remained the top traded share with the highest turnover of Rs 994.03 crore.
Reflecting the fall in L&T by 4.14 per cent and BHEL by 3.15 per cent, the sectoral BSE capital goods index dipped by 159.43 points or 2.62 per cent.
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