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Sensex gains for fourth day, defensives lead

Source : BUSINESS_STANDARD
Last Updated: Mon, Nov 05, 2012 19:13 hrs
People walk pass BSE building in Mumbai

The BSE Sensex edged up enough to mark a fourth consecutive gaining session on Monday as defensive stocks such as ITC and drug makers rose amidst global risk aversion ahead of US elections and a key parliamentary vote in Greece.

Global shares fell, while the dollar strengthened to two-month highs, on Monday as investors were unwilling to hold too much risk, as the US poll on Tuesday will be followed by a Greek vote on austerity measures on Wednesday.

The risk aversion sent the rupee to a one-and-half month low against the dollar.

Quarterly earnings results, including from blue chips Bharti Airtel, Tata Motors and State Bank of India, due this week will also be key.

The BSE index rose 0.04 per cent, or 7.42 points, to end at 18,762.87 points, bringing its gains to 1.8 per cent over the past four sessions.

The 50-share NSE index rose 0.11 per cent, or 6.50 points, to 5,704.20, closing above the 5,700 level for the first time since October 25, and has gained 1.9 per cent over the previous four sessions.



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