Sensex gains 18 points to snap eight-day losses

The S&P BSE Sensex ended its eight-day losing streak today by closing 18 points higher at 19,182.26, on buying in stocks like ICICI Bank, ITC and Reliance as investors judged the recent steady fall as overdone amid positive global trend.
The Sensex, which had lost nearly 1,139 points in last eight sessions, gained 18.24 points, or 0.10 per cent to end the day at 19,182.26.
On similar lines, the broad-based National Stock Exchange index Nifty rose by 7.50 points, or 0.13 per cent to close at 5,685.40.
SX40 index, the flagship index of MCX-SX, closed at 11428.72, up 9.99 points, or 0.09 per cent.

Brokers said the recent fall of three per cent in last week prompted investors to pick fundamentally strong stocks available at attractive lower levels.
They said a mixed trend in the Asian region and higher opening in Europe further supported the market.

Financial Technologies zoomed 30.88 per cent to Rs 197.95 after slumping 74 per cent last week. The company's unit, the National Spot Exchange had suspended trading in some commodities. The bourse contributed 56 per cent to Financial Technologies's net income.
In 30-BSE index components, 18 stocks gained while 12 stocks ended with losses. Major gainers were ITC, Coal India, Sterlite Industries, Reliance Industries, Tata Consultancy Services, Hero MotoCorp, ICICI Bank and Hindustan Unilver.

Day's gains were somewhat capped as energy major BHEL dropped 19.08 per cent to Rs 120.90, after profit plunged by half in the three months ended June 30.
The metal sector gained the most (2.67 per cent) followed by banking index (0.97 per cent), IT (0.90 per cent) and FMCG index (0.58 per cent).
On the other hand, capital goods index fell sharply by 3.58 per cent and power index by 1.02 per cent.