Sensex volatile on short covering; gains 109 pts

Mumbai, June 27: Amidst consistent volatility as the derivatives contracts for June 2006 come to an end on 29th June, the BSE Sensitive Index (Sensex) today gained 109 points to close at 10,058.29.

The Sensex, led by the FMCG, metals and IT sectors rallied hard to gain positive points, since it recovered from the lower levels in the intra-noon trade.

FMCG sector was up by 3.80 per cent at 1,881.37 points, metals was up by 2.71 per cent to 8,097.91 points, IT was up by 1.89 per cent to 3,571.67 points and the oil and gas sector was up by 0.56 per cent to 5,015.07 points. The midcap and the smallcap indices at the BSE were down by 0.99 and 1.89 per cent, respectively.

Earlier, during the day, Reliance Industries' shares surged as the company unveiled its Rs 25,000 crore retail plans. Reliance shares surged to the high of Rs 1,010 before it closed at Rs 988.00, which is almost seven basis points above its previous close.

Other major gainers were - ITC, up by 6.18 per cent, Tata Steel, HDFC, HLL, Hero Honda, Wipro, Dr Reddy's Lab, Satyam COmputeres, Infosys and Tata Motors, all up between 2.03 to 4.61 per cent.

The losers were largely those who held apprehensions about the Fed meeting in US tomorrow, regarding the hike in Fed Interest rates.

Major losers on the index were - Reliance Communications, down 5.16 per cent to Rs 228.90, Ranbaxy Ltd by 2.80 per cent to Rs 360.75, HDFC Bank by 2.70 per cent to Rs 739.95, BHEL by 2.01 per cent to Rs 1,799.10, Maruti by 1.90 per cent to Rs 721.85, Reliance Energy by 1.80 per cent to Rs 438, Cipla by 1.68 per cent to Rs 214.10, NTPC by 1.46 per cent to Rs 108.20, Bajaj Auto by 0.19 per cen to Rs 2590.30 and ONGC by 0.07 per cent to Rs 1,062.00.

The breadth in the broader market was in favour of 1,625 declines against 718 advances, out of total 2,398 stocks traded on the BSE.

UNI

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