Gains consolidated

STOCKS REPORT

Displaying extreme volatility, the BSE Sensex closed at 5,299.96, gaining 0.42 per cent (14.42 points) over its previous close.

Moving in an intra-day range of 64 points, the Sensex touched a low of 5,253.81 and a high of 5,317.41 in intra-day trades today. The NSE S&P CNX Nifty index closed at 1,695.40, gaining 8.50 points.

Old economy stocks saw gains in a market that saw highly volatile intra-day trades, helping it close in the positive.

Financial sector pivotals such as HDFC, ICICI Bank, HDFC Bank and State Bank of India witnessed strong buying, contributing to the gains in the market.

State Bank of India was up 2.10 per cent at Rs 473.65, ICICI Bank was up 3.72 per cent at Rs 284.05 and HDFC Bank was up 2.93 per cent at Rs 350.05 while housing finance major HDFC was up 4.05 per cent at Rs 613.45.

Elsewhere, pharma pivotals remained subdued on profit booking after recent gains. Foreign institutional investors were net buyers at Rs 612.40 crore and mutual funds were net buyers at Rs 14.60 crore on Wednesday.

Heavyweights Reliance Industries, ITC and Hindustan Lever also closed in the negative. Reliance Industries was down 1.34 per cent at Rs 491.80, ITC was down 0.86 per cent at Rs 973.60. and Hindustan Lever was down 0.61 per cent at Rs 187.

Stock-specific action was seen on select side counters with 663 companies advancing on the BSE compared with 814 declining.

HPCL was up 3.28 per cent at Rs 404.20 and ONGC was up 1.64 per cent at Rs 693.45.

Hindalco was up 2.92 per cent at Rs 1,329.70. Wipro was up 2.21 per cent at Rs 1,634.45. Hero Honda Motor was up 0.73 per cent at Rs 399.70. L&T was up 0.75 per cent at Rs 439.40 and Gujarat Ambuja Cements was up 0.36 per cent at Rs 291.95.

Zee Telefilms was down 2.36 per cent at Rs 138.90 on profit booking after recent gains. Cipla was down 1.99 per cent at Rs 1,195, Dr Reddy's Labs was down 1.33 per cent at Rs 1,370 and Ranbaxy Labs was down 1.18 per cent at Rs 1,070.85.