Sensex rises 66 point to 1-week high; GDP estimates eyed
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Sensex rises 66 point to 1-week high; GDP estimates eyed

Last Updated: Friday, February 07, 2014, 16:58
 
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Sensex rises 66 point to 1-week high; GDP estimates eyed
Mumbai: The Sensex on Friday rose for the fourth straight day and ended 66 points up at one-week high levels led by gains in Tata Steel, Sun Pharma and Sesa Sterlite, amid volatility ahead of advance growth estimates for 2013/14.

The index, which had gained 101 points in the previous three days, rose further by 65.82 points, or 0.32 percent, to end at 20,376.56. Intra-day, the barometer touched a low of 20,282.30 and a high of 20,450.51. Today's close was the highest since 20,513.85 on January 31.

Twenty stocks gained in the 30-share BSE benchmark. Tata Steel (6.39 percent), Sesa Sterlite (3.66 percent) and Sun Pharma (2.80 percent) were among winners. The ten laggards included TCS, Hindustan Unilever, Wipro, BHEL and ITC.

The 50-scrip NSE index Nifty rose by 26.90 points, or 0.45 percent, to end at 6,063.20 -- the third day of rise. Intra-day, it touched a low of 6,030.90. Today was the highest close for Nifty since ending on 6,089.50 on January 31.

"Markets remained volatile today amongst the expectations that the government would lower the GDP growth estimate for the last fiscal below 5 percent today," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio Limited.

The results of US jobs data and any surprises on GDP growth estimate by the government today evening would be key triggers for the market going forward, he added.

Overall, 8 of the 12 BSE sectoral indices rose. The BSE Metal sector index gained the most by rising 2.66 percent, followed by Healthcare index that jumped 1.69 percent and Realty index inched up 1.04 percent.

"Global cues were positive as the US markets had surged yesterday, as Wall Street embraced a drop in applications for jobless benefits as indicative of an improving US labour market and economy," said Sanjeev Zarbade, Vice President- Private Client Group Research, Kotak Securities.

The Sensex, however, fell for the second straight week as it slipped 137.29 points.



PTI

First Published: Friday, February 07, 2014, 16:56


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