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Sensex gains in choppy trade

June 24, 2009

The BSE Sensex ended 0.69 percent higher on short-covering ahead of the monthly derivatives expiry. Gains were capped by worries about the health of the global economy.

Trade was volatile and the 30-share sensitive index swung from an intra-day low of 14,207 to an intra-day high of 14,479 and closed 98 points higher at 14,422. The fifty-share Nifty ended 1.08 percent up at 4,293.

INDIA-STOCKS/6PCT The BSE Mid-cap Index gained 2.38 pct, while the BSE Small-cap Index ended 2.26 pct higher.

The rise in the benchmark was led by L&T, ONGC, BHEL and JP Associates.

On the sectoral front, the BSE Power Index gained 2.82 percent, followed by the Capital Goods Index which ended 2.52 percent higher. However, the BSE Banking Index closed 0.12 percent lower.

On the global front, Asian stocks recovered ahead of the US Federal Reserve meet later today.

FIIs sold net $134.6 million in shares and bought $47.4 million in debt.

Do you think tomorrow’s expiry will see the benchmark rise further?

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