Again attempting to breach 20,000, Sensex on Wednesday rose by 158.13 points and closed at 19,962.16. Nifty on the other hand gained 49.25 points and closed at 5,899.45. While most of the session, the market moved in a very narrow range, buying towards session end pushed the stock markets at its one week high.
As investors awaited decision by the US Federal Reserve on tapering its stimulus programme, share purchases by foreign investors pushed the markets to its week high. As per investment data released by the Securities Exchange Board of India, FII’s bought shares worth Rs 318.05 crore during Tuesday’s trade.
All the 13 sector indices of the BSE managed to close in green with real estate index leading with a gain of 2.03 per cent. Bank and FMCG indices also rose by 1.56 per cent and 1.37 per cent respectively. Auto and metal indices closed flattish by closing just 0.01 per cent up. Out of the 30 shares comprising the Sensex, 24 stocks closed with gains while on Nifty, out of the 50 shares, 34 stocks closed in green.
Experts said that volatility in the markets was high as investors awaited the outcome of the two day FOMC meeting. Investors are expecting Fed to announce small tapering in the $ 85 billion bond buying programme.
like stock markets, it was a choppy session on forex markets as well. After Tuesday’s fall rupee gained slightly and closed after gaining just 1 paisa at Rs 63.83 per dollar, the narrowest movement in four months. Experts cited that rupee gained due to the fresh dollar demand from oil refiners and other importers. The dollar index was down 0.05 per cent against a basket of six major global rivals.