Sensex pares losses to end flat

Posted By: Staff
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Mumbai, Feb 11:Select buying in frontline stocks helped key indices to pare most of intra-day losses Wednesday. Second rung stocks outperformed the benchmarks to end in the green.

Bombay Stock Exchange"s Sensex ended at 9,648.39, up 0.92 points or 0.01 per cent. The index touched a high of 9648.39 and low of 9459.59.

National Stock Exchange"s Nifty was at 2935.85, up 0.05 per cent or 1.35 points. The broader index hit a high of 2937.50 and low of 2877.60.

BSE Midcap Index was up 0.51 per cent and BSE Smallcap Index moved 0.33 per cent higher.

Amongst the sectoral indices, BSE Auto Index ended 0.92 per cent higher on reports that government may announce some relief to the industry in the form of excise cuts while presenting interim budget.

BSE Power Index ended up 0.42 per cent, BSE Bankex closed 0.33 per cent and BSE FMCG Index moved up 0.23 per cent.

Sensex rangebound; Tata Steel, Rel Infra down

Indian equities turned were moving in a narrow range after a gap-down opening on Wednesday. Metal and oil&gas stocks were worst performers while auto stocks bucked the trend.

Key indices were hovering around psychological levels as institutions were lying low after the US announced stimulus package to banks.

“As for today's trade, Nifty has strong support around levels of 2850 which should be held however any breach below these levels may see a fresh sell-off. On higher side levels of 3000

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