Sensex makes marginal gains ending losing streak

Mumbai  : A benchmark index for Indian equities markets rose 0.12 percent points Tuesday ending a seven-session losing streak. Fast moving consumer goods stocks such as ITC gained the most.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the red at 18,645.09 points, ended trade at 18,704.53 points, up 0.12 percent or 23.11 points from its previous day’s close at 18,681.42 points.

The Sensex had touched a high of 18,758.88 points and a low of 18,612.37 during the day.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) also went up 0.14 percent, or 7.75 points, to end at 5,641.60.

Traders said the markets were able to make gains as global shares steadied.

Among the gainers were defensive FMCG stocks like ITC and HUL which rose 1.3 percent and 2.5 percent, respectively.

However, blue chips such as Reliance Industries fell 3.2 percent, while Larsen & Toubro closed 2.1 percent down.

Aviation shares like Jet Airways and SpiceJet fell 1.7 percent and 4 percent, respectively, on fear of increased competition after the Foreign Investment Promotion Board (FIPB) approved AirAsia’s joint venture proposal.

Markets will be closed Wednesday and Friday for Holi and Good Friday, both public holidays.