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Sensex recoups early losses

MUMBAI: The Bombay Stock Exchange benchmark index, Sensex, recouped early sharp losses on Monday following reports of a strong manufacturing growth in January but failed to maintain the momentum and closed flat on profit booking.

Tracking negative cues from Asian markets, the Sensex opened 175 points down, fell nearly 200 points in mid-session on heavy selling, but recovered the losses in the second-half and touched 16422.40 before ending flat at 16356.03, a marginal loss of 1.93 points.

However, fag-end buying in select counters, mainly from the consumer durables, healthcare, auto and metal counters following reports of good manufacturing numbers in January, mainly helped the Sensex recovery.

However, the 50-share Nifty of the National Stock Exchange closed 17.65 points higher at 4899.70 after moving between 4918.80 and 4827.15.

After a very gap-down opening, Asian markets ended narrowly mixed as indices such as the Sanghai Composite fell by 1.60 per cent, Tawian by 1.52 per cent and Straits Times by 0.33 per cent, while Hang Seng ended higher by 0.61 per cent, Nikkei by 0.07 per cent and Kospi by 0.25 per cent.

Among the BSE sectoral indices, consumer durbales index spurted by 216.61 points or 5.70 per cent, healthcare index by 121.30 points or 2.55 per cent, auto by 117.65 points or 1.69 per cent and metal by 255.35 points or 1.60 per cent, while bankex, and IT fell.

Snapping its two-session gaining streak, the rupee on Monday depreciated by 22 paise against the U.S. currency on dollar buying by importers and banks amid stable trend in equity markets.

In lacklustre trading at the interbank foreign exchange market, the domestic unit closed 22 paise lower at 46.37/38.

The rupee moved in a range of 46.27 and 46.45. The rupee ended at Rs. 46.16 on Friday last. — PTI

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