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Jan 31, 2013 at 04:38pm IST

Sensex ends 20 points up; RIL, ICICI gain

Mumbai: The BSE benchmark Sensex on Wednesday closed 14 points up as investors covered up their pending positions before monthly expiry in the derivatives segment amid better global trend.

The Sensex gained by 14.10 points to close at 20,005. The gauge touched the day's high of 20,073.46 and a low of 19,964.64 with 12 of the BSE index components ending with gains. The index had lost 113 points in last two sessions.

Sensex ends 14 points up; RIL, ICICI gain

Reliance Industries, a market trend-setter and index heavy advanced 1.87 per cent to Rs 899.05, ended a four-day losing streak.

The broad-based National Stock Exchange index Nifty added 5.85 points to 6,066.75 led by stocks of realty, consumer durables and refinery stocks.

While the market was somewhat under pressure on investors clearing their positions before the monthly expiry in the derivatives segment, a better global trend supported the market.

"Sensex gained marginally by 14 points to close at above 20,000. Markets were range bound and action was stock specific ahead of January F&O expiry. PSU banks witnessed sharp declines after lower than expected quarterly result and lack of continuity in the future direction of RBI interest rate policy," said Shubham Agarwal, Associate VP & Sr Technical Equities Analyst, Motilal Oswal Securities Ltd.

Overseas investors were keen in the regional stocks as rupee strengthened over three-month high at Rs 53.36 on the back of increased dollar inflow and upcoming disinvestment in public sector companies.

The market was supported on firming Asian trend and higher opening in Europe following a powerful performance on Wall Street, where the Dow closed near its record high.

Reliance Industries, a market trend-setter and index heavy advanced 1.87 per cent to Rs 899.05, ended a four-day losing streak.

Private lender ICICI Bank shot up by 1.11 per cent to Rs 1,214.25 ahead of quarterly earning results and Reserve Bank of India cutting key interest rate cut.

The BSE benchmark Sensex on January 31 lost 110 points to close below 20,000 level as investors booked profit, particularly in ICICI Bank and RIL. The Sensex ended with a loss of 110.02 points, or 0.55 per cent, to close at 19,894.98.

Similarly, the wide-based National Stock Exchange index fell by 21 points, or 0.35 per cent, to 6,034.75. Brokers said selling pressure gathered momentum as speculators forced to clear their long pending positions created in the recent rally following monthly expiry of derivatives segment.

They said some investors booked profits from current upsurge when the benchmark hovered at two-year high. Besides, a weak trend in the Asian region and lower opening in Europe further influenced the market sentiment, they added.

The market heavy weight Reliance Industries fell by 1.39 per cent to Rs 886.55 and Infosys lost by 0.13 per cent to Rs 2,788.75. The second biggest private lender ICICI Bank declined by 1.93 per cent to Rs 1,190.85 despite reporting over 30 per cent rise in its standalone net profit at Rs 2,250 crore in the third quarter ended December 2012.

In 30-BSE index components, 19 stocks declined while 11 closed with gains. The banking sector suffered the most by losing 0.42 per cent to 14,580.26, after investors created long positions before the RBI credit policy.