Stock markets consolidate gains

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MUMBAI: Stock markets consolidated at higher levels on Thursday with the benchmark Sensex gaining 25 points at 16347.95 following selective buying by foreign funds, despite heavy selloff in IT counters due to rising rupee.

Although the market breadth was negative, realty counters attracted heavy buying interest followed by capital goods and metal shares, which helped the index to complete three-session winning streak.

The Bombay Stock Exchange (BSE) 30-share barometer moved erratically in a narrow range of 16415.88, a lifetime intra-day high, and 16261.26. It later ended the day at 16347.95 from Wednesday’s close of 16322.75, a small rise of 25.20 points. The broad-based S&P CNX Nifty of the National Stock Exchange also improved further by 15.20 points to end at new peak of 4747.55 from the previous close of 4732.35. It touched an all-time intra-trade high of 4760.85. After registering the biggest-ever single-day gain of 653.63 points on Wednesday following the U.S. Fed’s decision to cut interest rate, the market was cautious on profit selling at higher levels on Thursday. — PTI



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