Selling pressure in select technology, banking and blue-chip stocks towards the end of session pared early gains on the Bombay Stock Exchange (BSE) sensex on Tuesday.
The sensex finished with a small gain of 2.31 points at 3,377.28, off the intra-day high of 3,398.11 points.
The sensex gained around 3.5 per cent on the year, reversing two straight years of losses. Analysts expect the new year to bring in more cheer.
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Meanwhile, on the broader National Stock Exchange, the S&P CNX Nifty index added 1.55 points to close at 1,093.50. Overall, gainers outnumbered losers on higher trades.
Tech major Infosys Technologies added 0.55 per cent to Rs 4,771.15. However, Satyam Computer shed 1.23 per cent to Rs 277.90, Digital GlobalSoft lost 0.51 per cent to Rs 628.45, while Wipro settled flat at Rs 1,63065.
Other second-line stock also remained weak. VisualSoft Technologies lost 2.36 per cent to Rs 239.80, Hughes Software slipped by 1.64 per cent to Rs 197.75 and CMC lost 1.60 per cent to Rs 505.90.
ICICI Bank eased 1.82 per cent to Rs 140.55 on selling pressure after recent gains. State Bank of India shed 0.02 per cent to settle at Rs 282.65.
However, Dena Bank added 4.90 per cent to Rs 12.80, Andhra Bank advanced 3.74 per cent to Rs 20.8 and Bank of India rallied 1.37 per cent to Rs 36.95.
Cement stocks also extended gains anticipating a rise in prices. Grasim Industries climbed 2.01 per cent to Rs 315.25, while Larsen & Toubro rose 1.45 per cent to Rs 213.55.
Elsewhere, Tata Steel surged by 1.81 per cent to Rs 151.50 on back of the proposed price hike. Tata Steel, last week, said that a fresh hike in prices of flat steel products was on the cards from January 1, 2003.
Elsewhere, Reliance Industries added 0.05 per cent to Rs 2 97.70 on the back of reports that it had found significant gas reserves in the sixth well drilled in the Krishna-Godavari basin block. Power equipment major Bhel also surged by 1.32 per cent to Rs 172.60, while FMCG major Hindustan Lever ended flat at Rs 181.75.