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Sensex logs gains for 5th day, up 13 points

After registering its best weekly performance in over four years, the benchmark Sensex today closed in the positive territory for the fifth straight day by edging up 13 points as investors bolstered their bets amid inflows by foreign funds.

Last week, the Sensex rallied 1,492.18 points, or 6.44 per cent, and Nifty zoomed 455.60 points, or 6.48 per cent — their biggest weekly gain in more than four years.

In a volatile trade, the BSE Sensex after opening a tad higher moved up on the back of widespread gains in blue-chip stocks.

But profit-booking pulled it down as the 30-share barometer settled at 24,659.23, a paltry gain of 12.75 points, or 0.05 per cent.

The gauge had gained 1,644.48 points in the previous four sessions on expectations of a rate cut by RBI and positive global cues after the government kept its deficit target for the next fiscal at 3.5 per cent of GDP in the Budget 2016-17.

In contrast, the NSE Nifty-50, which retook the crucial 7,500-mark at the outset, gave up the day’s gains as profit-booking weighed. Finally, it closed little changed at 7,485.30 as against its previous closing of 7,485.35.

Traders said sentiment remained positive as investors have been building up positions in anticipation of a policy rate reduction by RBI amid a fresh spell of foreign fund inflows.

Foreign portfolio investors (FPIs) purchased shares worth a net Rs 671.57 crore last Friday, according to provisional data.

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