Sensex closes up by 30 points

Mumbai, Sept 18 (PTI) Erasing initial losses, the Bombay
Stock Exchange benchmark Sensex Friday ended with a moderate
gain of over 30 points for the fourth straight day on revival
of buying in auto, realty and healthcare counters.
The Sensex lost nearly 100 points at the outset but staged
a comeback to end the day higher by 30.19 points at 16,741.30
to stretch the winning streak to fourth day in a row.
The in the past three days the key index had gained 496
points.
Of the 30 Sensex stocks, 18 counters recorded gains while
12 others closed with losses.
Wider National Stock Exchange index Nifty rose by 10.50
points at 4,976.05 but could not cross the key 5,000-level.
Brokers said a weak Asian trend and market moving into a
consolidating mode after Nifty touching symbolic 5,000 points
saw every surge being capped, which made the trading choppy.
They said trading was volatile as anticipation of good
quarterly earnings by India Inc was countered by profit
selling after the market touched a 16-month high.
Major support came from auto shares on reports of a rise
in vehicle sale and expectations that it might gain further
momentum during Navratras, an auspicious week when people make
fresh purchases. Auto sector index gained 2.10 per cent to
6,603.10.
The realty index was the second best performer of the day,
rising by 1.29 per cent to 4,473.21 after DLF Ltd surged by
1.92
per cent to Rs 427.80 on expectations the recovery in
global economy might boost sale of houses and its related
sectors.

ACC rose by 2.04 per cent to Rs 844.80 and Ambuja Cement
by 0.50 per cent to Rs 99.90.

The health care index rose by 0.89 per cent to 4,023.54
as shares of Dr Reddy’s, the second-largest drug maker in the
country, rose by 3.63 per cent to Rs 865.45, the highest since
the stock was listed in 1991, on take-over reports.

The power index rose by 0.77 per cent to 3,046.28, oil
and gas index by 0.47 per cent to 10,126.25, teck index by
0.40 per cent to 3,278.59, capital goods index by 0.32 per
cent to 13,594.11, metal index by 0.18 per cent to 14,514.59
and IT index by 0.17 per cent to 4,555.92.
On stock-specific buying support, small-cap index rose by
0.77 per cent to 7,373.64 and mid-cap index by 0.45 per cent
to 6,171.23.

However, the gains were reduced as Banking index fell by
1.17 per cent to 9,324.10, PSU index by 0.16 per cent to
8,742.90 and FMCG index by 0.03 per cent to 2,535.59. PTI RS
DDC