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Sensex ends 80 points up in choppy trade

The 30-share index rose by 69.82 points to 20,922.20 points on the back of recovery in FMCG, metal and auto sector stocks.

twitter-logo PTI   Mumbai     Last Updated: November 10, 2010  | 08:03 IST

In a choppy trade, the Bombay Stock Exchange benchmark Sensex today fluctuated before ending with moderate gain of 80 points, as investors encashed every rise in the market.

Although IT stocks pulled up the Sensex initially, the results of the State Bank of India, announced after market hours yesterday, disappointed investors. The upsurge was also capped on profit booking at higher levels.

The Sensex, which shuttled between gains and losses, closed higher by 80.10 points to 20,932.48 as stocks in FMCG, IT and realty segment recorded fresh gains amid firm opening in European equity markets.

The benchmark commenced the day higher backed by a rise in information technology leaders, Infosys Technologies and Tata Comsultancy. Subsequently, fell it sharply to touch the day's low of 20,762.81, taking into account SBI's second quarter earnings.

The Sensex had advanced 4.9 per cent in last week, its steepest climb since five days ended July 17, 2009. It has risen 19 per cent this year, the best performance and most expensive among the leading global stock markets.

Emergence of buying in fundamentally strong stocks mainly lifted the market sentiment today amid reports of a higher opening in European stock markets this afternoon.

Tata Motors, the biggest truck maker and owner of Jaguar Land Rover, climbed for the fifth day ahead of its earnings report and Hindustan Unilever, a largest household products maker, advanced for the sixth day.

State Bank of India dropped the most in more than five months, sinking 4.40 per cent to Rs 3,271.90 as quarterly profit of Rs 25 billion fell short the market expectations.

In 30-BSE index-linked stocks, 20 counters closed with gains while 10 ended with losses. While the market was supported by shares in FMCG, Teck, IT, Metal and capital goods, a fall in refinery and public sector undertaking segments checked every rise in the market.

The second-heaviest on the Sensex, Infosys Technologies gained Rs 28.45 to Rs 3,052.10 while the most-heaviest Reliance Industries fell by Rs 4.55 to Rs 1,107.45.

As the buying activity shifting to low value stocks, smallcap sector index gained 0.85 per cent to 11,148.22 and midcap index by 0.38 per cent to 8,704.98.

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