After PM Manmohan Singh yesterday called for reversing the mood of pessimism, top bureaucrats today took stock of the economic situation with secretaries of various ministries to firm steps for arresting the slowdown in growth. (File/PTI)
In a dull trading, the benchmark
sensex ended up by merely 23 points for the third consecutive day
on short-covering in view of last day for the futures and
options June contract and on hopes of some reforms from Prime
According to dealers, the Street expects some reforms
after Prime Minister Manmohan Singh set himself the task of
reviving business sentiment and capital flows to prop up the
rupee, revisiting aggressive tax enforcement, and turning
around the fortunes of the mutual fund and insurance sectors
in an attempt to put the economy back on track.
The Bombay Stock Exchange 30-share barometer resumed
slightly higher and hovered in a narrow range of 17,033.85 and
16,918.87 before ending a 16,990.76, showing a marginal gain
of 23.00 points or 0.14 per cent from its last close. The NSE 50-share Nifty also inched up further by 7.25
points or 0.14 per cent to 5,149.15.
The stock market remained volatile today as traders
roll over positions from the near-month series to July 2012
series as the June derivatives contracts expired today. Asian stocks ended mixed ahead of the key two-day summit
of the European Union to discuss the ongoing European debt
crisis which begins today.
Key benchmark indices in Singapore, South Korea and
Japan were up by 0.08 per cent to 1.65 per cent while indices
in China, Hong Kong and Taiwan eased by 0.19 per cent to 0.95
European stock markets reversed direction after positive start and key indices in France, UK and Germany declined by
0.93 per cent to 1.72 per cent.
Foreign institutional investors (FIIs) bought shares
worth Rs 86.09 crore yesterday as per provisional data from
the stock exchanges. Out of the 30-share sensex family 15 scrips ended with
gains while others finished with losses.
Major gainers from the sensex pack were Tata Steel (1.83
pct), Hero Moto (1.58 pct), NTPC (1.48 pct), ITC (1.47 pct),
Coal India (1.43 pct), Tata Power (1.33 pct) and TCS (0.97
However, Gail India fell by 2.44 pct followed by Sterlite
Ind 1.86 pct, Hindalco Ind 1.24 pct, Sun pharma 1.08 pct and
SBI 0.85 pct. Among the sectoral indices the BSE-FMCG moved up by 0.82
pct, the BSE-Power 0.38 pct, the BSE-PSU 0.31 pct and the BSE-
IT 0.22 pct while the BSE-Oil&Gas eased by 0.73 pct, the
Bankex 0.32 pct and the BSE-Consumer Durable 0.30 pct.
The market breadth continued to rule firm as 1,461 shares
finished in green while 1,312 ended in red. The total turnover
rose to Rs 4,307.29 crs from Rs 1,634.90 crs yesterday.