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Sensex closes 65 points higher in volatile trade

The Bombay Stock Exchange 30-share index - Sensex - closed 65 points higher in a volatile session today as gains in metal and auto stocks offset selling pressure in banking and telecom scripts.

business Updated: Nov 18, 2010 17:14 IST

The Bombay Stock Exchange 30-share index - Sensex - closed 65 points higher in a volatile session on Thursday as gains in metal and auto stocks offset selling pressure in banking and telecom scripts.

The benchmark index of the Bombay Stock Exchange closed 0.33 per cent or 65.50 points higher, at 19,930.64 points, after plunging to 19,615.51 points in the morning session.

The Sensex opened in the positive at 19,997.83 points and touched a high of 20,056.44 points and low of 19,615.51 points in intraday trade.

At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty ended 0.21 per cent or 12.45 points higher at 6,001.15 points.

Broader market indices witnessed mixed trading. The BSE midcap closed 0.30 per cent down at 8,241 points and the BSE smallcap index ended 1.06 per cent down at 10,455 points. The Bankex index fell 1.6 per cent.

However, metal and auto indices closed in the positive.

Top gainers at the Sensex included Hero Honda, up 5.46 per cent at Rs 1,912.85; Hindalco Inds, up 4.86 per cent at Rs 222.35; Cipla, up 4.38 per cent at Rs 353.80; Bharti Airtel 3.77 per cent higher at Rs 324.90 and Tata Steel 2.98 per cent higher at Rs 623.40.

Reliance Communications was the biggest loser. The scrip ended 4.88 per cent down at Rs 153.90 on speculations that the company might come under the regulatory scanner for its alleged involvement in the Rs 1,76,000 crore 2G spectrum allocation scam.

Other major losers were ICICI Bank, 3.14 per cent down at Rs 1,164.65; Jindal Steel, 1.73 per cent down at Rs 660.40; Tata Power, 1.18 per cent down at Rs 1,328.10 and ONGC, 1.17 per cent down at Rs 1,277.70.

Most global markets traded in the positive on Thursday. Shanghai Composite index ended 0.94 per cent higher at 2,865.45 points.

Hong Kong's Hang Seng closed 1.82 per cent higher at 23,637.40 points and the Japanese Nikkei index advanced 2.06 per cent to 10,013.60.

European markets were also trading in the positive. Britain's FTSE 100 was trading 1.20 per cent higher at 5,764 points.

The German DAX was up 1.38 per cent at 6,792 points and the French CAC 40 was ruling 1.48 per cent higher at 3,848 points.