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Blue chips in rescue act

STOCKS REPORT

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Our Markets Bureau Mumbai
Last Updated : Feb 06 2013 | 8:07 AM IST
Amid high volatility the Bombay Stock Exchange (BSE) Sensex bounced back from lower levels on breaching crucial support levels. The Sensex after hitting a low bounced back on strong gains in selected blue chips at the fag end of the trading session.
 
While investors booked profit in metal stocks ( which witnessed a smart rally in the past few days), buying was witnessed in select technology and bank stocks. In the BSE Sensex basket, 12 out of the 30 scrips closed lower.
 
Brokers said, while margin calls and a surge in international crude oil prices to record highs on Wednesday had dampened the sentiment in the last few trading sessions, there was buying support after the Sensex breached the crucial support of 6600.
 
A head of equity with a domestic broking firm said, "the mood in the market is cautiously optimistic."
 
Nervousness is visible at these levels as players await fresh impetus before taking fresh calls. But the undertone of the market is positive on the back of strong liquidity in the market, added a broker.
 
The BSE Sensex hit a high of 6710.98 before closing at 6700.34, gaining 0.46 per cent or 30.82 points to end the five day losing streak. Volumes, however, were lower than on Thursday in the cash segment of the bourses; the BSE reported a turnover of Rs 2,775.36 crore and the NSE reported a turnover of Rs 4,129.11 crore.
 
The Bharti Tele-Ventures scrip was the biggest gainer in the Sensex basket, gaining 4.48 per cent to close at Rs 207.70, followed by ICICI Bank, up 2.93 per cent to Rs 413.05, Maruti Udyog, up 2.70 per cent to Rs 448.05, Ranbaxy, up 2.55 per cent to Rs 1,072 and Tata Motors, up 1.77 per cent to Rs 331.35.
 
Technology blue chips, Infosys Tech (up 0.90 per cent to Rs 2,200), Wipro (up 0.85 per cent to Rs 685.50), TCS (up 0.47 per cent to Rs 1,470) and Satyam Computer (up 0.46 per cent to Rs 369.60) ended higher on fresh buying at lower levels after recent weakness.
 
Other tech stocks CMC (up 3.20 per cent to Rs 649), Infotech Enterprises (up 2.31 per cent to Rs 256.75) and Patni Computers (up 1.01 per cent to Rs 388.55) also traded higher.

 
 

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First Published: Mar 19 2005 | 12:00 AM IST

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