Sensex logs modest gains in choppy trade
Mumbai: The BSE Sensex rose 47 points today to close at 35,739.16 in see-saw trade, led by gains in software exporters and healthcare stocks.
Buying picked up after official data showed industrial output expanded by 4.9 per cent in April this year, spurred by higher growth in manufacturing and mining sectors.
However, concern prevailed over retail inflation inching up to 4.87 per cent in May on increase in food prices. The 30-share index opened strong and hit a high of 35,877.41 on sustained buying by domestic institutional investors.
However, it gave up much of the gains on late selling by participants and finally settled at 35,739.16, still up 46.64 points, or 0.13 per cent.
In past two days, the index gained 248.85 points. Similarly, the broader 50-issue NSE Nifty ended higher by 13.85 points, or 0.13 per cent, at 10,856.70 after moving in the range of 10,893.25 and 10,842.65.
Domestic institutional investors (DIIs) bought shares worth a net Rs 1,327.45 crore, while foreign portfolio investors (FPIs) sold equities worth Rs 1,168.88 crore yesterday, provisional data showed.
Asian markets ended mixed and European stocks rose in their early deals as investors awaited the US Federal Reserve's policy decision, shifting focus away from the historic US-North Korea summit in Singapore.