Sensex gained 123 points in volatile trade as investors rolled over their near month position in the futures and options section. The near month January series in futures and options segment expired today.
The benchmark index opened on the lower side at 29,516 against the previous close of 29,559. It made a high of 29,741 and low of 29,378 before closing at 29,682. The turnover on BSE was down at Rs 3,741 crore against Rs 3,961 crore on Wednesday.
In NSE, the Nifty was up 38 points at 8,952.
Foreign portfolio investors bought shares worth Rs 1,723 crore on Wednesday.
Jayant Manglik, President-retail distribution, Religare Securities, said the markets initially witnessed a negative start in reaction to reports that suggested that the Federal Reserve taking an upbeat view on the US economy, signalled to raise interest rates this year.
HDFC dipped three per cent to Rs 1,310 on profit booking. The housing finance major reported 12 per cent rise in net profit to Rs 1,425 crore on 14 per cent rise in income at Rs 6,871 crore in the December quarter. Its loan book stood at Rs 2.19 lakh crore in the December quarter against Rs 1.92 lakh crore in the same period last year.
Coal India dipped two per cent to Rs 375. The government has offered to sell 31.58 crore equity shares or 5 per cent equity with an option to sell an additional per cent equity through a sale on the separate window provided by the stock exchanges on Friday. The floor price will be announced after market hours today.
The major gainers were HDIL (11%), Arvind (9%), MRPL (8%), Jet Airways (7%), Unitech (7%), Info Edge (7%), Hindustan Petroleum (7%), Prestige (6%) and Jubilant (5%).
Prominent losers were Orient Bank (-10%), Alstom (-10%), Sun Pharma Advanced Research (-9%), Gujarat Pipava Port (-7%), Polaris (-6%), Torent Pharma (-6%), Den (-6%), Indian Bank (-5%) and PMC Fincorp (-5%).
Among BSE sectoral indices, realty index gained the most by 3.14 per cent, followed by oil & gas 1.55 per cent, healthcare 1.08 per cent and FMCG 1.07 per cent. On the other hand, PSU index was down 0.74 per cent, followed by infrastructure 0.54 per cent, metal 0.21 per cent and TECk 0.11 per cent.
Open interest in derivatives at Rs 280,659 crore will ensure that the trading gets choppy as the expiry session progresses.
— lokeshwarri sk (@lokeshwarri)
January 29, 2015FOMC statement
The US Fed in its Federal Open Market Committee sattement said: "To support continued progress towards maximum employment and price stability, the committee today reaffirmed its view that the current 0 to 1/4 per cent target range for the federal funds rate remains appropriate. In determining how long to maintain this target range, the committee will assess progress — both realised and expected — towards its objectives of maximum employment and 2 per cent inflation. This assessment will take into account a wide range of information, including measures of labour market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments. Based on its current assessment, the committee judges that it can be patient in beginning to normalise the stance of monetary policy."
European stocks fell in early trading on Thursday after the US Federal Reserve took an upbeat view on the US economy and signalled that it remains firmly on track to raise interest rates this year.