Indices hold on tight: Nifty ends above 8250

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 27 points or 0.33 per cent to 8,155.75 points.

Emergence of profit-booking by speculators at improved levels in the last half an hour of trading dragged the key indices down from the day's high by wiping out the session's big gains.

The BSE Sensex after shuttling between 26,803.76 and 26,707.81 closed at 26,747.18, up 52.90 points, or 0.20 per cent on continuous foreign capital inflows.

Indian equity markets on Wednesday surged on the back of increased hopes of an easing of the monetary policy by the Reserve Bank of India (RBI), coupled with broadly positive global cues and value buying.

Global sentiment was also buoyed after Wall Street hit record highs on Thursday and after the European Central Bank extended it asset-buying programme for a longer period than many analysts had expected, though it trimmed the size of its purchase. But the rupee could not maintain its 3-day rally as it ended 6 paise down at 67.42.

Among the Asian stocks, China's Shanghai Composite gained 0.69 per cent, Hang Seng Index was down 0.40 per cent while Japan's Nikkei clocked over 200 points gaining 1.11 per cent.

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Foreign portfolio investors (FPIs) bought shares worth a net Rs 698.86 crore yesterday, according to provisional data.

State Bank of India, HDFC Bank, ICICI Bank and Axis Bank advanced by up to 1.72 per cent. "The rupee, however, lost its early gains to the U.S. dollar".

On the sectoral front, metal zoomed 2.93 per cent, followed by auto 2.63 per cent, infrastructure 1.87 per cent, technology 1.56 per cent and banking 1.54 per cent. Frankfurt's DAX 30 added 1.75% and Paris CAC gained 0.87% while London's FTSE was up 0.42%. Coming to sectors, realty was in a sweet spot, up 1.62 per cent, followed by banking index 1.14 per cent and FMCG 0.52 per cent.

A total of 11 stocks rose out of the 30-share pack while 19 closed lower.

Broader markets such as the BSE mid-cap and small-cap rose 1.49 per cent and 1.28 per cent, respectively, as investors created more bets.

  • Rita Burton