The BSE Sensex and NSE Nifty
were completely listless in trade following flat European markets on
Wednesday. Shares of Tata Motors, Dr Reddy's Labs, Jindal Steel and BHEL
topped the buying list, rising 2-3%.The BSE benchmark rose 47.06 points to 16906.86 and the NSE benchmark went up 17.5 points to 5,121.30. Even the Indian rupee was moving in a range around 56 to the dollar.
Markets globally are waiting for the statement by Federal Reserve at its two days meeting that will end today. Chairman Ben Bernanke is expected to expand Operation Twist to boost growth and buy protection against a deeper crisis in Europe. The Fed is also likely to keep rates unchanged.
However, Ethan Harris, BofA ML Global Research is not very positive about the outcome. According to him, Operation Twist will not aid economy much.
Back home, engineering and construction major by sales Larsen & Toubro was up 0.9%. Country's largest lenders State Bank of India and ICICI Bank moved up over 0.5%.
State-owned oil & gas producer ONGC rallied 1.6% and top two-wheeler manufacturer Hero Motocorp climbed nearly 2%.
However, the consistent fall in HDFC Bank, ITC, TCS, Bharti Airtel, Coal India, Hindalco and Maruti, which fell 0.7-1%, has capped the upside.
The BSE Midcap and Smallcap indices rose 0.6% each as advancing shares outnumbered declining by 1472 to 1061 on the BSE.
**Source :- MoneyControl.com
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