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Sensex reclaims 21K level on fresh buying in late morning

Mumbai (PTI): After a brief pause yesterday, the S&P BSE benchmark Sensex reclaimed the 21K level and was quoted at 21,012.77 in late morning trade due to fresh buying on the back of persistent foreign capital inflows.

Market also got a boost after Finance Minister P Chidambaram exuded confidence that the country’s current account deficit will be contained below USD 60 billion in current financial year.

Foreign institutional investors (FIIs) bought shares worth a net Rs 162.53 crore yesterday as per provisional data from the stock exchanges.

The Sensex resumed higher at 21,004.54 and hovered in a range of 21,045.38 and 20,944.50 before quoting at 21,012.77 at 1030 hrs, showing a gain of 37.98 points or 0.18 per cent from its last close.

The NSE-50 share Nifty also moved up by 2.20 points or 0.04 per cent to 6,255.35 at 1030 hrs.

Major gainers were TCS (1.83 per cent), Wipro (1.62 per cent), Cipla (1.40 per cent), Sun Pharma (1.36 per cent), Coal India (1.35 per cent), Tata Motors (1.24 per cent) and ITC (1.02 per cent).

Most Asian stocks reversed intra-day losses today. Key benchmark indices in Hong Kong, Taiwan, Indonesia and Japan rose 0.07 per cent to 0.47 per cent while indices in Singapore and South Korea fell 0.11 per cent to 0.12 per cent.

China’s Shanghai Composite was flat.

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