Sensex washes out initial losses, up eight points

The S&P BSE benchmark sensex washed out initial losses and was quoted marginally higher by eight points on the back of fresh buying, mainly in health care counter amid mixed trend in the Asian market.

The sensex resumed steady at 21,251.65, but declined immediately to 21,168.43 on initial selling mainly in FMCG and capital goods sectors in view of foreign capital outflows.
However, it recovered afterwards to 21,268.51 before quoting at 21,259.38, showing a marginal gain of 8.26 points or 0.04 per cent from its last close.

The NSE 50-share Nifty also moved up by 1.30 points or 0.02 per cent to 6,315.10 at 1030hrs.

Major gainers were Bharti Airtel 1.97 pct, Tata Steel 1.84 pct, NTPC 1.30 pct, Hindalco 1.29 pct and Cipla 1.26 pct.

However, ITC dropped by 1.60 pct, SBI 0.91 pct, HUL 0.81 pct and Larsen 0.77 pct.
Asian markets were trading mixed in their early trade as indices in Japan declined by 0.80 pct and South Korea by 0.10 pct even as Hong Kong and China firmed up by 0.10 pct and 1.70 pct respectively.

Meanwhile, foreign institutional investors (FIIs) sold net worth Rs 43.74 crores yesterday as per the provisional figures issued by stock exchanges.