Tags: Mumbai , BSE , Sensex

Mumbai: Makers today managed to close in positive terrain after a hectic late hour selling pulled down the benchmark Sensex on the Bombay Stock Exchange from its high level recorded on fresh buying in select sectors in view of the forthcoming Budget.

On alternate bouts of selling and buying, the bellwether index closed at 14,785.74, moderately up by 21.10 points or 0.14 per cent from its previous close.

The Sensex resumed higher at 14,815.90 at opening and shot up further to a day's high of 14,955.55 on persistent buying. Realty, metal, consumer durables and oil & gas counters attracted investors in view of the Budget which will be presented in Parliament on July 6.

However, the barometer declined afterwards to 14,685.45 on profit-taking as cautious investors booked profits at current levels.

The market cut losses at the fag-end of the day as investors took fresh position on hopes of a reform-oriented budget and hopes that New government will provide thrust on the infrastructure sector and push economic reforms to boost growth.

"In view of the budget ahead, there was interest in the stocks related with infrastructure. The construction, engineering, capital goods manufacturers showed strength. BEML ran up on account of good numbers," said Bonanza Portfolio Assistant Vice President Avinash Gupta.
The 50-share Nifty of the National Stock Exchange also ended higher by 15.45 points or 0.35 per cent to 4,390.95 from its last close..

Brokers said the market seemed awaiting for a direction from the economic survey to be tabled on July 2 followed by the Railway budget on July 3.

Meanwhile, foreign institutional investors turned buyers on Friday, making net purchases of Rs 551.14 crore in the equity, as per the provisional numbers.

Most of the Asian markets ended lower despite positive economic reports from Japan. However, European markets resumed higher on buying in pharma shares. Key Indices in UK, Germany and France moved up in the range of 0.07 to 0.52 per cent in the early trade.

In BSE-Sectoral indcies, BSE-Consumer durable shot up by 4.24 per cent, BSE-Realty by 2.91 per cent, BSE-Metal by 2.59 per cent and BSE-Oil&Gas by 2.40 per cent.

Major gainers in 30-share pack were, Sterlite by 5.66 per cent, DLF by 3.82 per cent, Reliance Ind by 2.78 per cent, ONGC 2.61 per cent and Tata Steel by 2.38 per cent.

Tata Motors tumbled by 7.77 per cent after the company reported heavy losses. Other major losers were, Sun Pharma by 3.52 per cent, TCS by 2.77 per cent, HDFC by 2.61 per cent.

The market breadth was positive with 1,686 gainers against 964 losers on the BSE.

The trading volume was higher at Rs 6,064.52 crore from Friday's level of Rs 5,541.06 crore. GMR Infra was the top traded scrip with a turnover of Rs 244.84 crore.

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