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Sensex gains 12 points at close
January 05, 2004 16:22 IST
The Sensex, which reported a healthy gain of 24 points at 6,050 in the openings, attracted further buying support as gains led by PSUs, tech and select heavyweights lifted the index to an intra-day high of 6,078.
The sentiment turned bearish in mid-morning deals as correction in cement, pharma, auto and other select economy stocks dragged the index below the 6,000 levels to a low of 5,965.
Though the markets recovered from lower levels in early noon deals, the index remained steady thereafter, on buying particularly in Infosys, ITC and SBI.
The Sensex, finally ended with a gain of 12 points at 6,039. The Nifty added nine points to close at 1,955.
Infosys attracted considerable buying support since opening deals, and mopped up 4% gains (Rs 220) to Rs 5,892. Satyam closed up a rupee at Rs 377. Wipro, however, ended at lower levels at Rs 1,737 - down Rs 26.
Reliance (down Rs 6 to Rs 579) and HLL (down Rs 2 to Rs 214) came under profit-booking and restricted the gains of the index. ITC, however, bucked the downtrend on buying support, and moved up 3% (Rs 36) to Rs 1,058.
SBI witnessed substantial buying support, and spurted 6% (Rs 34) to Rs 601. MTNL gained 2% (Rs 3) to Rs 152. BHEL at Rs 534 (down Rs 3) and HPCL at Rs 451 (down Rs 10) slipped from higher levels on sustained selling pressure.
ACC bounced from its lows after it reported an 8.5% increase in cement production for the month of December. The counter finally ended 3% higher (Rs 8) at Rs 274.
Gujarat Ambuja was up a per cent (Rs 3) at Rs 319, after remaining weak for better part of the trading session.
Grasim and L&T, however, ended with losses at Rs 1,029 (down Rs 27 or 3%) and Rs 525 (down Rs 12 or 2%), respectively.
Hero Honda lost 3% (Rs 14) to Rs 451. Bajaj remained weak through the session, and lost a per cent (Rs 14) to Rs 1,108. Tata Motors, too, ended weak at Rs 455 - down Rs 2.
Cipla dropped 3% (Rs 49) to Rs 1,350. While Ranbaxy slipped a per cent (Rs 14) to Rs 1,094, Dr. Reddy's was down Rs 3 at Rs 1,446