Sensex snaps 5-day losing streak, settles above 20,500

SENSEX (2)

The S&P BSE benchmark Sensex snapped its five-day losing streak and ended marginally higher Friday due to buying in realty, metals and Oil & Gas sector stocks.

The 30-share Sensex resumed higher at 20,544.64 and hovered in a range of 20,572.32 and 20,448.43 before ending the day at 20,514, showing a gain of 15.60 points from its last close.

The NSE’s benchmark index, the 50-share Nifty, also moved up by 15.80 points to 6,090.

US stocks rebounded yesterday as investors welcomed data showing a robust pace of growth in the world’s largest economy in the final quarter of last year, while upbeat earnings from Facebook Inc boosted the tech sector.

China’s markets are closed till February 7 for the Lunar New Year holiday, while Hong Kong bourse is shut until February 4.

Among other bourses shut for holiday are those of Taiwan, South Korea, Indonesia, Malaysia and Vietnam.

Meanwhile, foreign institutional investors (FIIs) sold shares worth a net Rs 430.20 crore yesterday, as per provisional data from the stock exchanges.

(With inputs from PTI)