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Sensex gains in choppy trade

May 19, 2009

The Sensex fell more than 3 percent early on Tuesday paring yesterday’s gains, but got right back into action on strong domestic buying and closed 0.1 percent up with support from positive global cues.

The benchmark swung from 13,840 in early trade to an intra-day high of 14,930 and then closed at 14,302 on profit taking. The index had gained more than 17 percent on Monday. The Nifty declined to 4,318.45, down 4.7 points.

INDIA-MARKETS/

The rise in the benchmark was led by L&T, ICICI Bank, L&T and SBI.

On the sectoral front, the BSE Realty Index rose 12.8 percent, followed by the Banking Index which ended 6.8 percent higher. The BSE IT Index, however, ended lower at 10.1 percent on a firm rupee.

FIIs bought net $11.1 million in shares and $6.7 million in debt.

At this juncture, do you think the choice of candidates for key government posts will play a role in guiding the markets?

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