Sensex reclaims 30000-level, rises 99 pts in early trade

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Mumbai: Benchmark Sensex ended marginally lower at 29,895 in range-bound trade Wednesday, as investors kept their powder dry ahead of US Fed's rate decision.

After a four-day consolidation, the market might gain some strength in next couple of sessions to move towards 9,400 level on the Nifty.

The 30-share index was trading 99.41 points, or 0.33 per cent, higher at 30,020.59 with all sectoral indices led by realty, power, auto, metal and capital goods trading in the positive zone.

Investors also remained cautious ahead of Fed policy outcome, due later in the day.

Globally, Asian markets ended mixed as Apple posted a surprise fall in iPhone sales in the second quarter and investors waited for cues from the Federal Reserve meeting.

Indian markets bounced back on Wednesday snapping earlier losses.

Domestic funds net bought shares worth Rs 541.39 crore, while foreign funds net sold stocks worth Rs 611.82 crore yesterday, as per provisional figures issued by stock exchanges.

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As of Tuesday's close, the NSE index had gained about 1.8 percent since April 13, when Infosys Ltd (INFY.NS) kick-started the corporate results reporting season.

Europe's STOXX 600 index slipped 0.2 per cent in opening trade.

Companies which traded lower were Lupin (3.09 per cent), HDFC (1.37 per cent), ICICI Bank (1.16 per cent), Tata Motors (1.11 per cent) and Tata Steel (1.03 per cent).

On the other hand, Sun Pharmaceutical Industries (0.75%), Maruti Suzuki India (0.41%), ITC (0.29%), Tata Consultancy Services (0.24%), Housing Development Finance Corporation (0.19%), and ICICI Bank (0.16%) were the biggest losers in the Sensex.

Sector-wise, the S&P BSE healthcare index fell by 145.40 points, the oil and gas index was down by 97.76 points and the banking index edged down by 95.10 points.

Market breadth remained negative as 1,531 stocks closed in the negative, 1,318 stocks finished higher and 157 remained unchanged.

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