Sensex closes flat on weak rupee

Mumbai, May 17 (IANS) A benchmark index for Indian equities market Thursday rebounded, closing over 40 points up in lacklustre trade as the rupee traded near its record lows and Eurozone concerns affected sentiments.

The index had fallen to a four-month low Wednesday.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,119.08 points in the morning, failed to sustain intra-day gains and closed at 16,070.48 points, up 0.25 percent or 40.39 points from its previous close of 16,030.09 points.

The Sensex touched a high of 16,240.18 points and a low of 16,007.92 in intra-day trade. The BSE midcap index rose 1.15 points while the smallcap index gained 5.41 points.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange closed 0.25 percent higher at 4,870.20 points.

The Indian rupee gained more than 20 paise, but it again began its downward journey in the latter part of the day. The Rupee depreciated to 54.57 a dollar (a new low) as against the previous close of 54.47 a dollar.

Buying was seen in FMCG, realty and oil and gas stocks.

The FMCG index was up 1.90 percent followed by realty index up 0.89 percent and oil and gas up 0.44 percent.

Major Sensex gainers included ITC, up 3.14 percent at Rs.235.20; Jindal Steel, up 1.98 percent at Rs.460.55; DLF, up 1.68 percent at Rs.184.60; HDFC, up 1.59 percent at Rs.631; SBI, up 1.56 percent at Rs.1857.80.

Major Sensex losers included: Mahindra and Mahindra, down 3.57 percent at Rs.633.20; Larsen and Toubro, down 3.51 percent at Rs.1163.35; Cipla, down 2.90 percent at Rs.312.70; Bajaj Auto, down 2.69 percent at Rs.1573; BHEL, down 1.51 percent at Rs.205.60.

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