Sensex gains 39pts; SBI advances 2%

After opening marginally (19 points) higher at 14,514, the Sensex slipped into red to a low of 14,433 on account of profit-taking in early trades.

However, recovery in the Chinese market boosted sentiment in noon trades and the index rebounded into the positive zone. Backed by smart gains in banking space the index rallied to a high of 14,571 - up 138 points.

The Sensex finally ended with a gain of 39 points at 14,535.

While the BSE Bankex advanced 1% to 7824, the FMCG index slipped 1.3% to 1870.

The market breadth was marginally positive - out of 2,677 stocks traded, 1,325 advanced, 1,279 declined and 73 were unchanged.

MOVERS & SHAKERS

SBI rallied over 2% to Rs 1,436. Reliance Energy surged 1.7% to Rs 551.

Bajaj Auto, Infosys and Bharti Airtel advanced 1.3% each to Rs 2,249, Rs 1,942 and Rs 837, respectively.

Ranbaxy and HDFC are up over 1% each at Rs 392 and Rs 1,897, respectively.

ITC shed 1.8% to Rs 162. Larsen & Toubro slipped 1.3% to Rs 1,945, and Gujarat Ambuja declined 1% to Rs 113.

Satyam, Maruti, Cipla and ONGC were the other prominent losers.

VALUE & VOLUME TOPPERS

Debutant Nitin Fire topped the value chart with a turnover of Rs 590.50 crore followed by Reliance Capital (Rs 111.65 crore), Reliance (Rs 107 crore), SBI (Rs 93.20 crore) and Cinemax India (Rs 75.65 crore).

Nitin Fire, also, led the volume chart with trades of around 1.30 crore shares followed by Reliance Natural (1.22 crore), G V Films (91.30 lakh), IFCI (88 lakh) and SREI Infra (75.25 lakh).