Sensex gains 13 pts; settles above 14,500-level | business | Hindustan Times
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Sensex gains 13 pts; settles above 14,500-level

business Updated: Jun 26, 2007 18:42 IST

The stock market on Tuesday continued with its volatile swings on alternate bouts of selling and buying activities, but managed to close in the positive with a modest gain of 13 points in its benchmark index.

The Bombay Stock Exchange's 30-share barometer index, Sensex, settled at 14,501.08 points, up 13.36 points from its previous close of 14,487.72.

The index closed above the 14,500-points mark for the first time in more than two weeks, even though a marked volatility was noticed on the bourses ahead of the expiry of futures and derivatives contract for the current month, brokers said.

After opening on a weak note, the Sensex rose to as high as 14,560.48, about 160 points away from its life-time high of 14,723.88 hit earlier on February 9, but pared gains as the trading session progressed.

The Nifty index of the National Stock Exchange closed 26.30 points higher at 4,285.70 points, as against its previous close of 4,259.40 points.

Significant buying was seen on select capital goods counters such as ABB, BHEL, Areva, BEML, Bharat Bijlee, Crompton Greaves, LMW, Kirloskar Brothers, Praj Industries and Siemens.

Among the Sensex blue-chips, ONGC, SBI, Bharti Airtel, Grasim, Tata Motors and Tata Steel were the major gainers, while IT stocks surrendered their initial gains and ended with marked losses.

According to market participants, the domestic market has ended higher in the last two days despite bearish global cues, denoting that the undertone is still positive here.