Sensex ends above 11,600, MphasiS drops 2%

The Sensex opened with a positive gap of 36 points at 11,600, and zoomed to an intra-day high of 11,711 in early morning deals. Profit-taking at higher levels saw the index drop to an intra-day low of 11,570 in late morning deals - a drop of 141 points from the intra-day high.

The index, thereafter, moved in a narrow, positive range through the day, and finally closed with a gain of 74 points at 11,638.

The BSE Bankex zoomed over 2% (131 points) to 5,473. The BSE FMCG Index was up over 1% at 2,292. All the other sectoral indices finished with gains today.

Advances continued to be ahead of declines - out of 2,595 scrips traded, 1,547 moved up, 994 declined and 54 were unchanged today.

HDFC Bank zoomed 7.6% (Rs 58) to Rs 831. SBI gained Rs 13 to Rs 996. ICICI Bank was up Rs 9 at Rs 613.

Ranbaxy was firm right through the session, and closed with a gain of 3.5% (Rs 15) at Rs 455.

Reliance added Rs 8 to Rs 838. HLL was up a rupee at Rs 280. ITC gained over 2% (Rs 4) to Rs 204. ONGC declined 2% (Rs 26) to Rs 1,289.

Infosys was up Rs 9 at Rs 3,152. Satyam dropped Rs 8 to Rs 874.

L&T moved up 1.6% (Rs 41) to Rs 2,532. BHEL added 1.5% (Rs 33) to Rs 2,331.

Bajaj dropped Rs 20 to Rs 2,801. Tata Motors was down Rs 10 at Rs 962. Grasim declined Rs 35 to Rs 2,110. Dr. Reddy's, Bharti, Gujarat Ambuja, Hero Honda, Hindalco and Tata Steel also declined.

MphasiS declined nearly 2% to Rs 212 after EDS made an open offer for 8.30 crore shares at Rs 204.50 per share.

VSNL was the most active counter with a turnover of Rs 125 crore followed by Reliance Communication Ventures (Rs 123 crore), SBI (Rs 99 crore), Ranbaxy (Rs 99 crore) and Reliance (Rs 93 crore).