The BSE Sensex today snapped its five-session losing streak and rose for the first time this year by over 36 points led by Tata Consultancy Services (TCS) and Coal India and value buying in healthcare, PSUs, auto, metal and oil and gas company stocks amid earnings optimism.
The 30-share index, which had lost nearly 485 points in five sessions, recovered by 36.14 points, or 0.17 per cent to end at 20,729.38 after moving between 20,786.41 and 20,688.18.
Similarly, the 50-share NSE Nifty also moved up by 12.35 points, or 0.20 per cent, to 6,174.60 after touching the day's high of 6,192.10. Also, SX40 index, the flagship index of MCX-SX, closed 37.24 points higher at 12,375.42.
Stocks of state-owned Coal India led the recovery by surging 4.77 per cent to Rs 288.75 on reports that company has scheduled a board meeting next week to consider payment of an interim dividend, if any.
Brokers said the trading sentiment turned better after investors bought fundamentally strong stocks available at attractive lower levels amid hopes of encouraging quarterly earnings from blue-chip companies.
Besides, a firming trend on the other Asian bourses following overnight gains on the US markets on strong trade data, indicating economy is getting back on track, too influenced the trading sentiment, they said.
Sectorally, the Healthcare index gained the most by rising 1.04 per cent, followed by PSU, which gained 0.82 per cent. Auto Index rose 0.71 per cent and metal index ended 0.43 per cent higher.
Among exporters stocks, Tata Consultancy Services shot up by 1.12 per cent to Rs 2,233 on earnings optimism.
However capital goods sector was the worst performer as it lost 1.35 per cent, while consumer durables fell by 0.58 per cent.
BSE Sensex clocks first gain of 2014; up 36 pts led by Coal India
(Reuters) BSE Sensex rose on Wednesday to mark its first daily gain this year, snapping a five-session losing run, as exporters such as Tata Consultancy Services (TCS) rose on earnings optimism while Coal India surged on plans for an interim dividend.
Export-driven Tata Consultancy Services Ltd provisionally rose 1.1 percent, while