Key benchmark indices regained strength in early afternoon trade. The barometer index, the S&P BSE Sensex, was up 131.35 points or 0.59%, up about 180 points from the day’s low and off close to 10 points from the day’s high. The market breadth, indicating the overall health of the market, turned negative from positive.
Index heavyweight and cigarette maker ITC declined. Bank stocks edged higher. Indraprastha Gas rose on reports the company on Friday, 5 May 2014, raised prices of CNG and PNG, citing rise in input costs. Hindalco Industries extended intraday gains.
Key indices hovered between gains and losses near the flat line in early trade. It regained strength after trimming gains after hitting fresh intraday high in morning trade. It trimmed gains in mid-morning trade. It regained strength in early afternoon trade.
The market sentiment was boosted by data showing that foreign funds remained net buyers of Indian stocks on Friday, 2 May 2014. Foreign institutional investors (FIIs) bought shares worth a net Rs 386.95 crore on Friday, 2 May 2014, as per provisional data from the stock exchanges.
At 12:20 IST, the S&P BSE Sensex was up 131.35 points or 0.59% to 22,535.24. The index rose 141.29 points at the day’s high of 22,545.18 in morning trade. The index shed 49.44 points at the day’s low of 22,354.45 in early trade, its lowest level since 30 April 2014.
The CNX Nifty was up 31.70 points or 0.47% to 6,726.50. The index hit a high of 6,732.05 in intraday trade. The index hit a low of 6,680.45 in intraday trade, its lowest level since 30 April 2014.
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