Sensex gains 170.13 pts, ends near 20K

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Mumbai, Dec 7:The benchmark sensitive index of the Bombay Stock Exchange (BSE) today gained 170.13 points to close at 19,966.00 in a volatile and choppy trade.

The Sensex today opened above the 20,000 level at 20,063.17, for the second consecutive day. It touched a high of 20,094.56 but could not sustain the trend as some heavyweight indices shed their gain during the afternoon trade and some profit booking was seen in the market, traders said.

Later, it slipped to touch a day's low of 19,706.57 by losing about 400 points points. In the late trading session, the market witnessed jittery trade, traders opined.

Similarly, the National Stock Exchange's S&P CNX Nifty index hit a fresh all-time high of 6,042.10 points and closed at 5,975.30 with a marginal gain of about 19.60 points. Nifty opened firm at 5,963.60 and soon crossed the 6K level to touch a fresh all-time high of 6,042.10 and a day's low of 5,894.80 during the day trade.

Data showing slide in inflation helped the market end the choppy session on a firm note but fall in index heavyweight Reliance Industries capped the rise. Infosys Technologies and ICICI Bank spurted and IT, banking and realty stocks were in demand. Market breadth moved between positive and negative. 16 out of 30 stocks from the Sensex pack were in the red.

European markets, which opened after Indian markets, were firm in early trade. The BSE Mid-Cap index was down 0.16 pc to 9,019.38. The BSE Small-Cap index was also down 0.21pc to 11,336.81. Market breadth was positive. On BSE, 1467 stocks advanced, 1397 stocks declined and 45 stocks remained unchanged. BSE clocked a turnover of Rs 8598 crore compared to yesterday's turnover of Rs 9,762.59.

Some Asian markets edged lower after the initial rise that was triggered by easing of US recession worries after US President George W Bush yesterday unveiled plans aimed at stemming US home loan foreclosures.

Reliance Industries slipped 0.82pc to Rs 2851, off day's low of Rs 2806, while ICICI Bank jumped 3.89pc to Rs 1246. Infosys Technologies soared by 4.65pc to Rs 1711.

Housing Development Finance Corporation climbed 4.25pc to Rs 2933, DLF gained 4.01pc to Rs 1010.20, TCS rose 3.07pc to Rs 1066, Ranbaxy Laboratories moved up 2.06pc to Rs 406.15. and Bharti Airtel rose 2.30pc to Rs 961.50.

Among the losers, Hindalco Industries fell 2.46pc to Rs 188.25, Tata Steel declined 1.68 pc to Rs 833, ITC slid 1.64pc to Rs 189.50, ACC shed 1.57pc to Rs 1065 and Bharat Heavy Electricals fell 1.54pc to Rs 2743.

UNI

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