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  • Sensex ends higher by 65 pts in volatile trade

    Published on November 19, 2010

    In a volatile trade, the Bombay Stock Exchange benchmark index, Sensex, today fluctuated nearly 440 points before ending with a gain of over 65 points on funds buying on an improved global trend and easing food inflation back home.  

    After falling nearly 249 points at the outset, Sensex bounced back to gain of 191 points. It fell again but closed with a gain of 65.50 points to 19,930.64, backed by rising stocks of metal and auto sectors. 

    Similarly, the broad-based National Stock Exchange index Nifty rose by 10.10 points to 5,998.80. It shuttled between 6,076.20 and 5,906.75 during the session.

     Trading sentiment recovered in later part following reports of a fall in food inflation to 10.3 per cent for the week ended November 6, from 12.3 per cent in the previous week, raising hopes steady interest rates. 

    A higher trend in the Asian region and better opening in Europe this afternoon further bolstered the market sentiment.

     However, the reports of 2G spectrum allocation scam capped the gains, while SKS Micro Finance fell on a state crack-down on collection practices by the lenders.

     Stocks of telecom firm Reliance Communications and realty major Unitech plunged, amid concerns that they may be probed as being a part of the 2G spectrum allocation scam.

     In 30-BSE index components, 19 stocks rose while 11 scrip ended with losses. The market received much support from the two heaviest on the Sensex, Reliance Industries and Infosys Technologies recording handsome gains.

     The two carry nearly 23 per cent weightage on the benchmark.
    The metal sector index gained the most by rising 1.89 per cent to 16,891.43 as Sterlite Industries, the largest copper and zinc producer rose by 2.69 per cent to Rs 177.25.

     The auto sector index was second best performer, rising 1.40 per cent to 10,122.87, followed by healthcare index which was up 0.97 per cent to 6,676.07. Capital goods index rose by 0.89 per cent to 15,741.02 and FMCG index by 0.53 per cent to 3,622.34.

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