Sensex back in green ahead of election results (Roundup)

Mumbai, May 15 (IANS) A benchmark index of Indian equities markets Thursday returned to the positive zone, closing 90.48 points or 0.38 percent up, near to its previous record high just hours ahead of the general election results.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE) opened at 23,809.42 points and ended trade at 23,905.60 points, up 90.48 points or 0.38 percent from the previous day's close at 23,815.12 points.

The benchmark index dipped 42.61 points or 0.18 percent in earlier sessions, after which it rebounded.

The Sensex touched a high of 23,971.78 points and a low of 23,742.75 points intra-day.

The index lost 36 points Thursday after three straight sessions of gain.

Sanjeev Zarbade of Kotak Securities said, "There could be increased volatility in the market as the results start trickling in Friday morning."

Markets were also upbeat after official data showed a slower increase in food and fuel prices.

India's wholesale price-based inflation fell to 5.2 percent in April from 5.7 percent in the previous month.

The inflation based on Whole Price Index (WPI) was at 4.77 percent in April 2013.

Healthy buying was observed in consumer durables, oil and gas and bank stocks. However, capital goods, metal and automobile sectors came under selling pressure.

The S&P BSE consumer durables index gained 113.34 points, oil nad gas index surged 101.16 points and bank index went up 23.32 points.

However, capital goods index fell 118.22 points, metal index declined by 77.78 points and automobile index slipped by 65.84 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed flat at 7,123.15 points, up 14.40 points or 0.20 percent.

The major Sensex gainers were: Tata Steel, up 3.07 percent at Rs.87.35; NTPC, up 2.95 percent at Rs.129.25; ONGC, up 2.56 percent at Rs.378.05; Gail India, down 2.16 percent at Rs.403.95; and Hindustan Unilever, up 2.08 percent at Rs.588.35.

The main losers were: Bajaj Auto, down 4.28 percent at Rs.1,953.20; Hindalco Inds, down 1.98 percent at Rs.138.40; Sesa Sterlite, down 1.88 percent at Rs.193.45; Wipro, down 1.50 percent at Rs.516.35; and Dr Reddy's Lab, down 1.46 percent at Rs.2,482.10.

Among the Asian markets, Japan's Nikkei closed 0.75 percent down, while Hong Kong's Hang Seng was higher by 0.66 percent. However, China's Shanghai Composite Index lost 1.12 percent.

In Europe, London's FTSE 100 was trading 0.12 percent up and the French CAC 40 Index rose 0.11 percent, while Germany's DAX Index lost 0.06 percent.