Sensex cautious on weak global cues; TCS cracks 5 per cent

A trader reacts as he watches screens on the floor of the New York Stock Exchange in New York on Feb 5

Nearly 60 stocks on the BSE hit fresh 52-weeks high which include names like Aarti Industries, Vadilal Enterprises, NIIT Technologies, Eris Lifesciences, Jindal Worldwide, Godrej Agrovet, and Tech Mahindra.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,818.22 points, traded at 34,022.09 points - up 104.15 points or 0.31 per cent from the previous session's close.

Gaining over 350 points during the day, the Sensex was at 33,630.39 points, up 323.25 or 0.97% at 11am. Vinod Nair, head of research, Geojit Financial Services Ltd, said, "Inflation is expected to come down to 4.74% in February which will ease bond yield in the near term".

Retail inflation surprisingly slowed for the second consecutive month to 4.4 per cent in February from 5.1 per cent in January and 5.2 per cent in December. The stock on Wednesday closed 3.37 per cent higher at Rs 638. Nikkei, Hang Seng, Shanghai, ASX 200 and Kospi were down 0.3-0.9 percent.

Yes Bank rose 1.7 percent after it acquired over 17 percent stake in Fortis Healthcare in view of default by promoter group companies.

Major Sensex gainers on Monday were: Bharti Airtel, up 4.68 per cent at Rs 420.75; NTPC, up 4.33 per cent at Rs 171; ITC, up 4.09 per cent at Rs 270; Tata Motors, up 3.07 per cent at Rs 352.20; and Tata Steel, up 2.82 per cent at Rs 622.70.

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A fresh spell of selling dragged down most of the sectoral indices, led by oil & gas, realty, metal, FMCG, power, capital goods, auto and PSU which fell up to 0.94%.

Meanwhile, the BSE mid cap and small cap indices were trading with minor gains of 0.06% and 0.11% respectively.

Overseas, most Asian stocks ended mixed and European equities opened sightly up as investors awaited release of the US inflation data later in the day for clues on the pace of US Fed rate hike.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent, after hitting a 1-1/2 month high yesterday.

This is unedited, unformatted feed from the Press Trust of India wire.

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