Mumbai, Sep 10: In listless trading, the Sensex today closed 17 points up as investors adopted a cautious approach after recent gains and ahead of IIP and inflation data releases later this week.
The BSE benchmark index, which had gained 437 points in last three sessions, shuttled between 17,810.90 and 17,728.12 today before ending 17.13 points higher at 17,766.78. This was the fourth straight day of gains for the 30-share Sensex.
Sun Pharma, Bharti Airtel, CIL and Tata Steel were among the 15 winners in Sensex, gaining in 1.6-2.6 per cent range. Selling was seen in 14 stocks including Jindal Steel, Bhel and SBI. Sterlite Industries remained unchanged today.
Lack of major direction ahead of some global as well as domestic economic events this week mainly kept the market in tight range, said brokers. World markets today displayed a narrowly mixed pattern of trading.
“IIP data will be announced on Sep 12 and inflation numbers will be out on 14th. During the same time, the US Fed will conclude its FOMC meeting. This meeting is closely eyed by market participants across the world,” said Milan Bavishi Head Research, Inventure Growth & Securities.
A better global trend, however, continued to support the domestic shares. The 50-share NSE index Nifty edged up by 4.75 points to 5,363.45, after touching high of 5,375.45.
Banking stocks led by ICICI Bank and SBI declined ahead of the Reserve Bank of India's forthcoming mid-quarterly review next week. Overall, stocks of consumer durables, healthcare, metal and sectors ended higher, while realty, banking, power, FMCG, capital goods and oil&gas closed lower.
Second-line stocks attracted good buying support from retail investors and outperformed the Sensex. As a result, the BSE-Smallcap and BSE-Midcap indices ended up 0.70 per cent and 0.28 per cent respectively.
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