The Sensex eked out a modest gain on Friday, as investors turned cautious ahead of state election results, while a muted response to the government’s sale of shares in Oil & Natural Gas Corp (ONGC) raised concerns about its divestment plans.
ONGC shares fell 2.4 per cent after a $2.5 billion government share auction fell just short of being fully subscribed. Larsen & Toubro rose 1.7 per cent after an order win, while banking stocks rebounded in late trade after falling in the previous session.
The main 30-share index closed 0.3 per cent, or 52.83 points higher at 17,636.8, with 15 of its components rising. Trade was choppy with the index falling much as 0.5 per cent after starting 0.5 per cent up. For the week, the index fell 1.6 per cent, after losing two per cent in the previous week. The market will be open tomorrow for a 1-1/2 hour special trading session to test new software.