The BSE Sensex surrendered its initial gains but still
ended higher by a mere 34 points due to fag-end selling pressure after the Comptroller and Auditor General of India's (CAG) report on coal block allocation pegged the loss at Rs 1.86 lakh crore.
Two more CAG reports - one on
awarding bids for mega power projects and another on the levy of
development fee on passengers at Delhi Airport - also impacted negatively on the market sentiment.
Shares of Realty, Power, Metal and Capital goods sectors fell sharply on heavy selling pressure from operators.
The 30-share index of the Bombay Stock Exchange resumed higher at 17,701.20 and shot up further to a day's high at 17,801.39 due to persistent capital inflows from foreign funds coupled with higher Asian cues on easing of Eurozone debt worries.
However, it declined afterwards to 17,622.62 as news of CAG report filtered in, before settling at 17,691.08, showing a nominal gain of 33.87 points, or 0.19 per cent.
The broader NSE 50-issue Nifty also edged up by 3.35 points or 0.06 per cent to 5,366.30.
Marketmen ignored the projection of a higher growth rate of 6.7 per cent in 2012-13 by
Prime Minister's key advisory body on Friday which called for bold reforms like increase in diesel prices, cut in fertiliser and LPG subsidies, opening of FDI in multi-brand retail and predictable tax policies.
Foreign institutional investors (FIIs) bought shares worth net Rs 95.01 crore on Thursday, according to provisional figures from the stock exchanges.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Special 
