Money on the markets
A maturing market amid the mayhem
Engineering firm L&T beat forecast with strong quarterly numbers. Its shares closed 2.3 percent up.
Ranbaxy Labs, which gained 4.2 percent, and Sterlite Industries, which rose 3.6 percent, topped the list of Sensex gainers. Bharti shares rose nearly 3.5 percent after a three- session fall.
The metals sector led the sectoral space as its index gained 2.7 percent. SAIL and JSW Steel gained over 6 percent each. Bankex registered a rise of 1.8 percent.
The rally was led by heavyweight counters like ICICI, ONGC and Reliance Industries.
The benchmark had risen over 1 pct during trade, but was unable to sustain it and closed just 42 points higher.
The benchmark index ended at 9,568, having struggled throughout trade as investors booked profits. It had dropped over 5 percent just before close.
The benchmark index seesawed all through the day and closed 20 points lower at 9015, pulled down by banks that slipped on concerns about their profit margins. The Sensex had dropped below the 9,000 mark in early trade.
Index heavyweight Reliance Industries gained 2.1 percent while Bharti Airtel was up 1.3 percent.
The budget failed to deliver on investor expectations of a stimulus plan for sectors such as autos and construction, while announcing that spending was likely to increase later in the year. For complete coverage of Interim Budget 2009/10, click here.
The coalition government, which faces general elections by May, is likely to focus on measures to shore up the flagging economy and stem job losses in the interim budget.
The benchmark index shrugged off lower-than-expected inflation figures and fell 1.21 percent on Thursday, as a slump in domestic demand and fresh concerns over the U.S. economy took a toll on investor sentiment.
The Sensex closed 110.97 points down at 9,090.88, snapping a two-day rise. Losses were led by Reliance Industries, which fell 1.6 percent to 1286.75, and HDFC which dropped 3.6 percent.