- Stock market wrap-up: NSE Nifty breaks psychological support, Tata Steel and Bank of Baroda in losers listNSE Nifty pulls of partial recovery after sell-off, outlook range 6,129NSE Nifty tumbles for fifth day, down by 29 pointsA fifth of NSE Nifty companies bag higher returns than index in 2013
Export-driven IT and pharmaceutical shares gain on expectations a weaker rupee and healthier overseas markets will boost earnings.
However, concerns remain about foreign flows after overseas investors sold 13.29 billion rupees worth of index futures on Tuesday, leading to total sales of 23.34 billion rupees over the previous three sessions, according to exchange data.
BSE Sensex trims initial gains, still up 68 points
(PTI) The BSE Sensex trimmed initial gains and was quoted 68 points higher in late morning trade today amid buying in oil & gas, healthcare, power, consumer durables, auto and IT stocks.
The BSE Sensex resumed higher at 20,767.42 and hovered in a range of 20,688.18 to 20,779.54 before quoting at 20,760.83 at 1030 hrs, a gain of 67.59 points or 0.33 per cent.
The Nifty on the National Stock Exchange gained 21.55 points, or 0.35 per cent, to 6,183.80 at 1030 hrs.
The major gainers were Sun Pharmaceuticals Industries (2.18 pc), Cipla (2 pc), GAIL India(1.86 pc), Tata Power Company/b> (1.82 pc), Hindalco Industries (1.38 pc), NTPC (1.16 pc) and Coal India (1.12 pc).
Most Asian stocks edged higher in early trade as the International Monetary Fund said it will raise its global economic growth forecast and as the US trade deficit narrowed.
Key indices in Taiwan, Hong Kong, Singapore and Japan rose, while indices in China and South Korea fell.
Foreign institutional investors sold shares worth a net Rs 567.02 crore yesterday, according to provisional data from the stock exchanges.