Markets snap two-day losing streak, Nifty closes above 8,200

Mumbai: A day after it resumed trading, a benchmark index of the Indian equities markets closed Friday’s session with marginal gains - up 33.17 points or 0.12 percent. Heavy selling pressure was observed in fast moving consumer goods (FMCG), consumer durables and automobile sectors, while healthy gains were made by information technology (IT), metal and capital goods scrip.  The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 27,215.19 points, closed at 27,241.78 points, up by 33.17 points or 0.12 percent from the previous day’s close at 27,208.61 points. The Sensex touched a high of 27,370.63 points and a low of 27,091.38 points in the intra-day trade. “The markets today remained range bound as of the losses led by some heavy weight stocks. On the back of selling, Nifty was seen slipping down its psychological support of 8200 but reclaimed the level in the closing session,” said Alex Mathews, head research, Geojit BNP Paribas Financial Services. “The European markets were up on the hopes that the government may step up to support the economy and the US index futures remained mixed.” The S&P FMCG index plunged by 63.08 points, consumer durables index dropped by 46.65 points and automobile index fell by 7.42 points. However, IT index gained by 87.77 points, followed by metal index which was up 61.07 points, and capital goods index which moved higher by 41.29 points. The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed the day’s trade up 26.60 points or 0.33 percent at 8,200.70 points. The major Sensex gainers were: HDFC, up 1.18 percent at Rs 1,114.05; Sesa Sterlite, up 1.00 percent at Rs 207.40; Tata Consultancy Services (TCS), up 0.98 percent at RS 2,505.50; Infosys, up 0.84 percent at Rs 1,950.35; and Hindalco Inds, up 0.83 percent at Rs 152.20. The major Sensex losers were: Maruti Suzuki, down 1.31 percent at Rs 3,330.95; BHEL, down 1.26 percent at RS 251.75; ITC, down 1.14 points at Rs 367.70; Hindustan Unilever, down 0.77 percent at RS 750.95; and ICICI Bank, down 0.61 percent at Rs 351.   IANS