Free Press Journal

Sensex closes at two-week high, up 44 pts in volatile trade


Mumbai : Benchmark Sensex surrendered much of its early gains on Tuesday on widespread caution ahead of release of GDP data, but ended at over two-week high of 26,394 on sustained buying amid mixed global cues, reports PTI. Auto, telecom, consumer durables, energy, industrials and capital goods stocks firmed up on good buying, while IT, FMCG, banking and metal counters slipped on profit-booking. This was the third straight session of gains for the 30-share index, which rose 43.84 points or 0.17 per cent to close at 26,394.01, its highest closing since November 11, when it had ended at 26,818.82. Intra-day, it shuttled between 26,587.07 and 26,354.66. The gauge has risen by 533.84 points or 2.06 per cent in three days. The NSE Nifty, after touching a high of 8,197.35, slipped to 8,128.70 before closing 15.25 points, or 0.19 per cent, higher at 8,142.15. “With bulk of earnings numbers out, markets would now focus on macros, especially with many, including GDP and PMI figures, due for release in the next two days,” said Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services Market is also tracking tomorrow’s OPEC meeting, where producers are likely to discuss output cuts. Sentiment remained upbeat for the better part of the day after the government provided yet another opportunity to black money holders to legalise their wealth, brokers said.

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