Sensex trims initial gains, still up by 6 points

Sensex trims initial gains, still up by 6 points

• Representational image File Photodna Research & Archives

A bout of volatility was witnessed in early trade as key benchmark indices trimmed its entire initial gains but was still up 25 points in late morning trade following sustained buying in healthcare, auto, consumer durables and FMGC sectors amid mixed Asian cues.

However, selling were seen in banking, metals and power sectors.

After a long weekend, the market opened on a positive note today. The 30-share index Sensex resumed higher at 28,351.94 and hovered in a range of 28,367.58 and 29.235.58 before quoting at 28,266 at 1030hrs, still showing gain of 5.86 points or 0.02% from its last close.

The NSE 50-share Nifty also quoted marginally higher by 1.75 points or 0.02% to 8,588.00 at 1030 hours.

Major gainers were Sun Pharma by (3.37%), M&M by 2.78%, Tata Motors by 2.35%, Dr Reddy 1.80%, ONGC by 1.62, Bharti Airtel 1.38% and Hindalco by 1.36%.

However, HDFC fell by 1.73%, followed by Tata Power by 1.42%, Bhel by 1.38%, Tata Steel by 1.08% and HDFC Bank by 0.88%.

Foreign portfolio investors (FPIs) bought shares worth a net Rs 209.87 crore last Wednesday, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 197.25 crore on Wednesday, as per provisional data of the Stock Exchanges.

In the overseas markets, Asian markets were trading mixed. Key indices in Indonesia and South Korea rose by 0.14% to 0.44%. Singapore’s Straits Times was flat. Japan’s Nikkei Average fell by 0.19%.

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