The BSE Sensex today settled up 3.79 points at 3,259.31, off its intraday high of 3,282.35. The Sensex swung in a 52-point band. Brokers said the market remained hopeful that the US' efforts to avert a war in the region will succeed. Meanwhile, technical analysts add that the Sensex faced stiff resistance at its 200-day moving average of 3,280 points, a level it failed to convincingly breach on Wednesday. On the NSE, the S&P CNX Nifty finished flat at 1,065.35, up 0.15 points.
Market breadth was negative as losers outpaced gainers amid lower volumes.
Public sector unit (PSU) stocks, among the biggest gainers in recent times following the government's disinvestment drive, took the brunt of the profit-taking. Fertilisers & Chemicals Travancore slipped 18.20 per cent to Rs 45.40, Hindustan Organic settled down 5.02 per cent at Rs 30.30 and Engineers India slipped 4.51 per cent at Rs 361.75.
On other hand, select bluechip stocks remained in the limelight. FMCG giant Hindustan Lever finished at Rs 202.20, up 0.95 over Wednesday's close, on the lack of institutional support.
Reliance group companies, Reliance Industries (up 0.47 per cent to Rs 275.35) and Reliance Petroleum (up 0.20 per cent to Rs 24.55) settled firm. But cigarette major ITC was down nearly four per cent at Rs 623.20 on profit booking.
Elsewhere, ICICI Bank (up 6.08 per cent to Rs 151.80) recovered from an intra-day low of Rs 140.20 on renewed buying interest. While Bhel (up 4.54 per cent to Rs 172.70) gained on reports that the company has bagged a Rs 229-crore order from ONGC to refurbish its onshore oil rigs.
Telco (up 3.60 per cent to Rs 139.70) rose after the company announced impressive Q4, FY 2001-02 results on Tuesday after market hours.
Meanwhile, technology stocks including Infosys Technology (down 0.63 per cent to Rs 3,410.40), HCL Tech (down 0.66 per cent to Rs 226.30) and Satyam Computer (down 1.24 per cent to Rs 231.65) ended lower on selling pressure. While Zee Telefilms shed 2.1 per cent to Rs 133.70.
