Sensex rises modestly by 14.78 points

Mumbai, Nov 29 (UNI) The Sensex rose modestly by 14.78 points and settled higher at 13,616.73 on the Bombay Stock Exchange(BSE) today in volatile trade on fresh speculative buying support from Foreign Institutional Investors (FIIs) and local investors.

After surging over 100 points at the onset of trading, due to firm Asian markets, it gradually pared gains later and it even slipped into the red at one point of time at the fag end of the trading session. It recovered from the red and moved higher by 14.78 points at the close.

Sensex hit a low of 13,586.04 and high of 13,711.76 during the intra-day session.

The BSE SML CAP Index shot up sharply by 103.62 to close at 6635.01 while MID CAP index advanced by 76.64 points and was quoted at 5727.85. Similarly, METAL and AUTO indices also spurted higher by 59.60 points and 31.89 points respectively and touched 8981.10 for METAL index and 5337.35 points for AUTO index.

Meanwhile, S&P CNX Nifty index of National Stock Exchange (NSE) resumed flat at 3922.50. The index recorded a low of 3920 and a high of 3952.40 points during the session.

Liquidation of positions in November 2006 derivatives contracts ahead of expiry of November contracts on Thursday weighed on the bourses. Five Sensex heavyweights Infosys, ICICI Bank, ONGC, Bharti Airtel and Reliance Industries (RIL) slipped into the red.

Cement shares rose on firm cement prices. Auto scrips edged higher after the government cut retail fuel prices.

The broad market depicted bullish trend as gainers outpaced losers by a ratio of 1.77:1 on BSE. Select side counters surged.

BSE clocked a turnover of Rs 4388 crore compared to Tuesday's Rs 4161 crore, brokers said.

MORE UNI AR PM/OBB AW1651