Sensex shrugs off weak GDP numbers, up 102 points

Mumbai : A benchmark index for Indian equities rose in afternoon trade Wednesday, ignoring latest data which showed the economy grew at 6.9 percent in the quarter ended September — the slowest in over two years.

The 30-scrip sensitive index (Sensex) of the BSE, which opened at 15,868.96 points, was ruling at 16,113.89 points, 105.55 points or 0.66 percent up from its previous close at 16,008.34 points.

The Sensex rose after hitting an intra-day low of 15,849.57 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading higher at 4,831.1 points, up 0.54 percent or 26 points from its previous close.

Broader markets were, however, still trading lacklustre with the BSE 500 index up a modest 0.22 percent.

FMCG, oil and gas, telecom and IT stocks saw some buying but consumer durable scrips fell.

The market breadth was negative, with 1,086 stocks advancing and 1,402 on the decline. Another 115 were unchanged.

Among gainers on the 30-scrip Sensex were: HDFC Bank, Bajaj Auto, TCS and ONGC. Losers included Tata Motors, BHEL, ICICI Bank and M&M.

Asian markets fell Wednesday after a meeting of European finance leaders failed to come out with any announcement on plans of containing the zone’s debt crisis.

The Japanese Nikkei closed 0.51 percent lower at 8,434.61 points. Hong Kong’s Hang Seng was ruling 1.68 percent down at 17,950.03 points.

The Chinese Shanghai composite index was trading 3.27 percent lower at 2,333.41 points.

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