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Sensex Ends 85 Points Up In Volatile Trade

Mumbai, Feb 8: In highly volatile trading today, the BSE Sensex gained 85 points on buying in bluechips including heavyweights RIL and Infosys amid FII inflows and positive markets overseas.Reliance Industries rose by 1.57 per

PTI [ Updated: February 08, 2012 17:54 IST ]
sensex ends 85 points up in volatile trade
sensex ends 85 points up in volatile trade

Mumbai, Feb 8: In highly volatile trading today, the BSE Sensex gained 85 points on buying in bluechips including heavyweights RIL and Infosys amid FII inflows and positive markets overseas.


Reliance Industries rose by 1.57 per cent on reports that it is in talks with domestic airlines to provide jet fuel infrastructure and transport services.

Infosys gained 1.60 per cent on estimates that India's IT and IT services sector will cross the USD 100 billion-mark this fiscal. The two scrips carry nearly 20 per cent weight on the BSE 30-stock index, Sensex.

In all, 11 of the 13 sectoral indices closed with gains. BSE-Healthcare and Bankex ended in the red. Consumer durables, realty, IT, metals, power and capital goods led the gains. Auto sector performed well following reports of higher vehicle sales in January.

Opening higher, Sensex moved widely - between 17,809.21 and 17,579.59 through the day—settling at 17,707.32, up 84.87 points or 0.48 per cent.

Investors kept booking profits as the Sensex made gains, inducing high volatility. The NSE 50-share index Nifty gained 33 points or 0.62 per cent to close at 5,368.15.

FIIs, which have been investing in Indian equities since early this year, had bought shares worth Rs 618.84 crore yesterday as per provisional data from the stock exchanges.

Key Asian markets gained up to 2.43 per cent, providing support to investor sentiment.

European markets were also up in early trade amid hopes of a deal to tackle euro-zone debt crisis, especially Greece.

“Market had a positive opening in line with the global peers in Asia and Europe on hopes of deal between Greece and its creditors. US markets had also closed higher,” said Shanu Goel, Research Analyst at Bonanza Portfolio.

From the Sensex pack, 22 shares ended with gains. Major gainers were Hindalco (4.92 pc), Gail India (3.18 pc), DLF (2.97 pc), Coal India (2.29 pc), Hero Motocorp (2.22 pc), Maruti Suzuki (1.83 pc), Wipro (1.83 pc), Sterlite (1.68 pc), HDFC (1.66 pc), TCS (1.61 pc), Infosys (1.60 pc), HUL (1.57 pc), RIL (1.57 pc), Jindal Steel (1.56 pc), SBI (1.09 pc) and Larsen (1.05 pc).

Bharti Airtel was the top loser, slipping 6.58 per cent on lower-than-expected third quarter results. ICICI Bank fell 1.81 pc, while ONGC dropped 1.29 pc.

Market breadth at the BSE was positive as 1,723 stocks ended with gains, while 1,157 scrips finished with losses. The total turnover improved to Rs 3,630.37 crore, from Rs 3,452.77 crore yesterday.

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