Sensex logs 1st daily gain of 2014

The BSE Sensex rose on Wednesday to mark its first daily gain this year, snapping a five-session losing run, as exporters such as Tata Consultancy Services (TCS) rose on hopes about their earnings, while Coal India Ltd (CIL) surged on its interim dividend plan. Higher global markets, including European shares pushed higher by solid German exports, also helped domestic indexes recover after posting their weakest start to the year since 2011, as of Tuesday.

However, gains were limited by concerns over recent foreign investors sales and the start of the corporate earnings reporting season. India is also due to post key inflation data next week.

Mid-cap stocks may continue to see better action than large-caps in the coming few weeks, he added.

The benchmark BSE Sensex rose 0.17 per cent, or 36.14 points, to end at 20,729.38, snapping a 2.3 per cent over fall over the previous five sessions. The broader Nifty gained 0.2 per cent, or 12.35 points, to end at 6,174.60, but still approaching 6,100, which has been a key technical support five times since January 2013.