The BSE Sensex shrugged off initial losses to end 68 points higher at
over one-week high on Thursday, on smart rise in auto scrips like Tata Motors and
Mahindra & Mahindra (M&M).
Traders said the market saw volatility due to alternate bouts of buying and selling amid May derivatives series expiry.
The 30-share index of the Bombay Stock Exchange resumed weak in line with sluggish Asian indices. However, buying in last half an hour of trade saw Sensex rising to close at 20,215.40, a gain of 67.76 points, or 0.34 per cent.
This is the highest close since May 20 (20,223.98). The Sensex had risen 13 points on Wednesday.
The 50-issue CNX Nifty of the National Stock Exchange rose 19.75 points, or 0.32 per cent, at 6124.05. MCX-SX flagship index, SX40, ended 42.72 points or 0.36 per cent higher at 11,990.89.
Sectorally, the auto sector index gained the most by 2.29 per cent to 11,369.08 as M&M and
Tata Motors surged on better quarterly earnings. The FMCG sector was the second best performer, rising 1.88 per cent to 6,925.17, as ITC shot up by 3.15 per cent to Rs 324.25 on hopes of a good monsoon.
Experts said positive trend in European markets also influenced the domestic markets.
All eyes are now on the
fourth quarter GDP data, which will be released on Friday, even as growth is expected to be around 4.8-5 per cent.
"While broader markets moved in a narrow band, movement in the stocks was determined by their quarterly numbers," said Nagji K Rita, CMD, Inventure Growth & Securities.
The market was also supported by gains in HDFC, HDFC Bank, NTPC, Sun Pharma, Bharti Airtel, BHEL and TCS. Fall in Cipla, Hero MotoCorp, ICICI Bank and Infosys capped the gains.
Giving a perspective on F&O expiry, Sahaj Agrawal, Deputy Vice President Derivatives Research, Kotak Securities said: Nifty gained nearly 3 per cent on expiry basis. Banking space broadly consolidated with a positive bias."
Asian stocks closed lower on Thursday with a sharp fall of 5.15 per cent in Japan's Nikkei on heavy selling amid concerns over the fall in dollar against the yen. Other Asian indices closed down in 0.05-1.13 per cent range.
With inputs from PTI
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