Money on the markets

The BSE Sensex seesawed today, erasing early losses of as much as 1.8 percent, and finally closed above the 15,000 mark on hopes of a revival in the economy. Higher European markets also helped lift investor sentiments.

The 30-share sensitive index of the Bombay Stock Exchange swung from an intra-day low of 14,601 to an intra-day high of 15,026, and finally closed 137 points up at 15,008. The fifty-share Nifty ended 0.93 percent up at 4572.

The main contributors to the benchmark’s rise were L&T, ICICI Bank, HDFC and Bharti Airtel.

The BSE Mid-Cap index continued its rally gaining 2.26 percent, while the BSE Small-cap index was up 2.23 percent.

On the sectoral front, the BSE Realty index was up 3.29 percent, followed by the Capital Goods Index which ended 3.23 percent lower. The BSE Metal Index, however, ended 2.1 percent lower.

FIIs sold net $67.5 million in shares and bought $46.6 million in debt.

Data released today showed that inflation rose 0.48 percent in the 12 months to May 23, lower than previous week’s annual rise of 0.61 percent.

On the global front, Asian stocks fell on Thursday after weaker U.S. private employment and service sector data.

Do you think the Sensex will end the week above 15,000?