Sensex swings amid volatile session

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Mumbai, July 28 (UNI) The Sensex today swung between positive and negative, amidst volatile trading session after serial blasts in two major cities of the country, killing over 50 and leaving about hundred injured.

The benchmark index of Bombay Stock Exchange was trading 43.03 points up at 14,322.74. It lost 55.56 points at the day's low of 14,219.38, hit in early trade and gained 94.49 points at day's high of 14,369.43 on bouts of alternate selling and buying interests in select pivotals.

The market witnessed high volatility in opening trade. Banking stocks declined ahead of monetary policy review by the central bank scheduled on Tuesday. Reliance Industries fell. Overall the market breadth was positive and global cues were mixed.

The broader based S &P CNX Nifty index of National Stock Exchange was up by 12.4 points at 4,324.25. The BSE Mid-Cap and Small-Cap indices were trading with a marginal gain.

Reliance Industries dropped by 1.55 per cent to Rs 2,114, Hindustan Unilever rose up by 0.93 per cent to Rs 234.35, ITC up by 1.83 per cent to Rs 192.25 and United Spirits up by 0.51 per cent to Rs 1,264.90 edged higher.

Banking stocks declined ahead of Reserve Bank of India (RBI's) monetary policy. ICICI Bank declined by 4.77 per cent to Rs 625.50, after it posted a decline in net profit by six per cent to Rs 728 crore in the first quarter of the current fiscal.

Axis Bank shed 1.96 per cent to Rs 698.50 and Kotak Mahindra Bank, down by 2.56 per cent to Rs 545.35 edged lower. However, India's largest commercial bank State Bank of India (SBI) rose up by 1.5 per cent to Rs 1,470.15, after it posted a 15 per cent increase in its first quarter net profit.


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