Indian Shares Edge Higher; Sensex Above 20K Level
By IBTimes Staff Reporter | January 30, 2013 7:39 PM EST
Indian stock markets were trading with gains in the afternoon session on Wednesday as gains in realty and consumer durables sector offered support.
The 30-share BSE Sensex advanced 0.08 percent or 16.77 points to 20,007.67, and the 50-share NSE Nifty rose 0.13 percent or 7.90 points to 6,057.80.
Markets opened on a positive note, tracking gains in Asian peers as local corporate earnings and economic reports buoyed sentiment. Asian markets advanced Wednesday, with Japanese Nikkei climbing 2.28 percent after official data showed that retail sales in the world’s third largest economy increased 0.4 percent on annual basis in December, down from the 1.2 percent gain in the previous month but topped Reuters estimation for a 0.3 percent rise.
Meanwhile, data released by the Korea National Statistical Office showed that South Korea’s industrial production rose 1 percent in December compared to that in the previous month as a rise in domestic demand offset the weakness in export orders.
Banking sector shares recovered after declining in the previous session on profit booking. Banking sector shares advanced Tuesday after the Reserve Bank of India (RBI) cut its key interest rate for the first time in nine months to boost economic growth but profit booking in the later session pulled the stocks lower.
Axis Bank surged 2.11 percent and Kotak Mahindra Bank gained 1.46 percent while Yes Bank rose 1.42 percent.
Among the sectoral indices in BSE, realty and consumer durables sectors gained 1.63 percent and 1.45 percent, respectively, while capital goods and power sectors fell 1.11 percent and 0.62 percent, respectively.
The overall market breadth was negative with 1129 advanced against 1507 declines. The BSE's Midcap Index declined 0.02 percent to 6,934.46 and Smallcap Index fell 0.20 percent to 7,082.42. CNX midcap Index declined 0.37 percent and CNX IT fell 0.02 percent.
To contact the editor, e-mail:
Most Popular Slideshows
- NFL MNF: Washington Redskins 20, Dallas Cowboys 17 (OT) [PHOTOS]
- Emma Watson Gets 'Squished' In 'Colonia Dignidad' [PHOTOS]
- 2014 MLB World Series Game 6: Kansas City Royals 10, San Francisco Giants 0 [PHOTOS]
- San Francisco Giants Beat Kansas City Royals, 3-2 In Game 7, Wins 2014 MLB World Series [PHOTOS]
Join the Conversation
- ISIS Has Been Equipped With Advanced Anti-Aircraft Missiles
- Canada’s Official ISIS Mission Starts On Weekend; Kuwait Uneasy
- Ebola Divides The US: More States Begin Applying Stricter Guidelines Than What CDC Imposed
- Russia Succeeds Where US Fails: ISS NASA Antares Rocket Explosion Meant to Happen; Russia Successfully Launches Cargo Ship
- FIFA May Keep Russia and Ukraine Apart in World Cup 2018
- Marvel Announces Release Dates Of 11 Upcoming Movies From 2015 To 2019
- Xiaomi Becomes World’s Third Largest Smartphone Manufacturer By Dethroning Huawei
- Entry Of Peshmerga Fighters From Iraq Boosts The Kobani Battle Against ISIS: Turkey Provides Transit
- Nokia Lumia 730 v. Sharp Aquos Crystal – Specifications, Features And Price Showdown
- Nexus 6, 9 Buyers on November Release Will Enjoy These 3 Killer Lollipop 5.0 Features First
- Australia Special Forces Await 'Delayed' Iraqi Visas Before Joining ISIS Fight
- Woman Hanged In Iran Talks Abuse In Prison, Left Chilling Message To Family