Sensex recoups early losses, up marginally by 5 points

Monday, Aug 29, 2016,10:59 IST By metrovaartha A A A

Mumbai | The benchmark Sensex recovered from its initial losses, though ruling flat with a mere gain of 5 points helped by mild buying in auto, industrials, capital goods, metal and energy counters despite lower Asian cues.

Down beat sentiment prevailed after US Fed chief Janet Yellen indication of raising interest rates this year.

Selling was witnessed in IT, realty power, teck, FMCG and financials and healthcare sectors.

The 30-share index resumed higher at 27,827.26 and later slid to 27,698.71. It was quoting at 27,787.32 at 1100 hrs, showing a marginal gain of 5.07 points, or 0.02 per cent, from its last close.

The NSE 50-share Nifty also trading marginally up by 3.80 points or 0.02 per cent at 8,573.65.

Major gainers were, Tata Motors by 4.56 pct, Heromoto 1.44 pct, Tata Steel 1.12 pct, Realiance 1.04 pct and Bhartiartl 0.70 pct.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 341.35 crore last Friday, as per provisional data released by the stock exchanges.

Notable losers were TCS 1.90 pct, Wipro 1.61 pct, PowerGrid 1.52 pct, HDFC Bank 1.24 pct and Asian Paint 1.19 pct.

Overseas, Asian stocks trading lower after Federal Reserve Chairwoman Janet Yellen last Friday signaled the possibility of an interest-rate increase later this year.

While US stocks closed mixed last Friday.