Sensex adds to gains, up 81 pts on overseas cues

However, positive European markets and healthy buying in consumer durables, IT and oil and gas stocks limited the downside.

The Sensex recorded a significant recovery of 255 points to close at a new peak of 31,312 today and the Nifty reconquered the key 9,600, riding piggyback on GST headway and expectations of reforms by regulator Sebi.

The BSE 30-share barometer touched a high of 31,392.53, but settled at 31,297.53, down by 14.04 points, or 0.04 percent.

The BSE market breadth was bearish - with 1,428 declines and 1,229 advances.

However, state-run SBI bucked the trend and rose 0.52 per cent. "Negative global cues spoiled investors' sentiment", Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS.

A low-lying rupee against the dollar proved to be a drag.

Global benchmark Brent was down 11 cents, or 0.2 per cent, at $45.91 barrel at 0345 GMT after falling almost 2 per cent in the previous session to its lowest settlement since November.

Tata Motors was up 3.28 per cent on media reports that Tata Group may be considering listing its luxury carmaker Jaguar Land Rover through an initial public offer.

Asian shares were also up, with Japan's Nikkei rising more than 1 percent to a near two-year high, tracking gains in USA hi-tech shares as investors bet on solid growth in the economy and corporate profits globally.

Major Sensex losers were: Tata Motors, down 2.11 percent at Rs 457.30; ONGC, down 2.10 percent at Rs 165.15; Lupin, down 1.63 percent at Rs 1,094.25; Adani Ports, down 1.58 percent at Rs 369.75; and Tata Consultancy Services, down 1.45 percent at Rs 2,406.05.

  • Zachary Reyes