In volatile trade, the benchmark BSE Sensex on Friday rose by 33 points to close the day at 27,241.78, mainly because of gains in HDFC, Sesa Sterlite, Infosys and TCS, amidst lack of fresh market cues.
The BSE index resumed higher on beginning of January series in the derivatives segment. It gradually started to slip due to foreign capital outflows. later, it wiped off losses completely and settled the day at 27,241.78, a rise of 33.17 points or 0.12 per cent, breaking two days of losses. In previous two sessions, Sensex had shed 493.18 points.
The 50-share NSE Nifty after falling to the day's low of 8,147.95 staged a strong comeback to regain the 8,200-mark to close at 8,200.70, up 26.60 points from its previous close. The first day of new monthly derivatives contract attracted buying in IT, realty and metal counters which aided the Sensex to land in positive terrain at close, brokers said.
European markets and from some Asian bourse remained closed for trade on account of Christmas holidays. Brokers said they expect fresh foreign funds to flow after on-going Christmas holidays and in the next calender year. Investors refused to take big risks ahead of the year-end holidays, they added. Foreign portfolio investors sold shares worth a net Rs 2,808.27 crores on Wednesday, as per provisional data.
Major gainers were HDFC 1.18 per cent, Sesa Sterlite 1 per cent, TCS 0.98 per cent, Infosys 0.83 per cent, Hindalco 0.83 per cent"Stock specific move kept traders busy while the market breadth remained slightly on the advancing side. Among BSE sectoral indices, realty rose by 0.93 per cent, IT 0.85 per cent and metal 0.58 per cent.
Meanwhile rupee failed to maintain initial gains against the dollar and was quoted lower by six paise to 63.57 on fresh demand for the American currency from banks and importers due to heavy foreign capital outflows. The rupee resumed higher at 63.45 as against Wednesday's closing level of 63.51 at the Interbank Foreign Exchange (Forex) on initial selling of dollars by banks and exporters.
However, it failed to maintain initial gains and dropped to 63.64 before quoting 63.57 at 1000 hours. It moved in a range of 63.45-63.64 per dollar during morning trade. In the global market, the dollar was lower against the yen and other currencies on Wednesday in subdued pre-Christmas holiday trading.