Sensex ekes out marginal gains in volatile trade

In volatile trade, Indian markets today managed to close in positive zone for the third straight session with benchmark Sensex adding about 8 points to close at 27,403.54 amid year-end profit booking by investors.

The BSE index, after rising over 82 points in early trade on optimism over better growth prospects and government's resolve to use the ordinance route to push more economic reforms, surrendered most gains.

Profit booking emerged in stocks that logged gains recently, and dragged down the benchmark to the day's low of 27,312.29 points.

The Sensex finally settled with a moderate gain of 7.81 points, or 0.03 per cent, at 27,403.54. The gauge had gained 187.12 points in previous two sessions.

Also, the NSE Nifty after shuttling between 8,268.25 and 8,220.55, ended 1.95 points, or 0.02 per cent up at 8,248.25.

"Gains remained capped as traders remained concerned due to volatile moves in the stocks across-the-board," said Jayant Manglik, President- Retail Distribution, Religare Securities.

Weak Asian markets and European stocks slipping in early trade from three-week highs also influenced trading here.

BHEL was the best gainer today among the 30-share Sensex as it jumped 1.51 per cent. Other Sensex gainers included Dr Reddys, NTPC, Axis Bank, SBI, M&M, HDFC Ltd, HDFC Bank, Hindustan Unilever, L&T, ICICI Bank, Cipla and Infosys.

However, 12 stocks led by Hero MotoCorp, Tata Steel, RIL, ONGC, Bajaj Auto, Sesa Sterlite and Coal India fell.

Sectorally, BSE Consumer Durables index rose (1.38 per cent), followed by Power index (1.14 per cent), Capital Goods (1.03 per cent), Banking index (0.68 per cent), IT index (0.37 per cent) and Healthcare index (0.37 per cent).

Meanwhile, Foreign portfolio investors (FPIs) sold shares worth Rs 204.22 crore yesterday, as per provisional data available with stock exchanges.