Sensex gives up some gains, closes 95 points up

The BSE benchmark Sensex surged by 116 points in early trade today on sustained buying by funds and retail investors, supported by encouraging quarterly earnings by corporates.

A benchmark index for Indian equities markets Friday closed 95 points higher, paring some of the initial gains as FMCG companies led by IT came under selling pressure.

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The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,745.01 points, closed at 16,739.01 points, 95.27 points or 0.57% up from its previous close at 16,643.74 points.

It had moved up to 16,788.48 points in intra-day trade.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also closed higher at 5,048.6 points -- up 0.6% or 30.2 points from its previous close.

Broader markets also moved up with the BSE 500 index ending 0.52% higher from its previous close.