The Sensex opened 46 points higher at 8,473, backed by positive cues from other Asian markets. The index, however, could not hold gains for long, as it slipped into red to a low of 8,373 - down 100 points from the day's open.
However, fresh buying at lower levels mainly in metal stocks helped the index recoup losses and rebound into the positive zone. Selective buying in cement and realty stocks helped the index advance to a high of 8,501 - up 128 points from the day's low. But, weakness in banking stocks continued to weigh on the index.
The Sensex finally ended with a gain of 19 points at 8,446. In the process, the index today reversed its three-day losing streak wherein the index had shed almost 6% (529 points).
The BSE Metal index surged 2.8% to 4,547. The Oil & Gas and Healthcare indices were up over 1% each at 5,842 and 2,581, respectively. On the other hand, the Bankex and Consumer Durables index was down 1.5% each at 3,890 and 1,474, respectively.
The market breadth was fairly negative - out of 2,537 stocks traded, 1,437 declined, 998 advanced and the rest were unchanged today.
INDEX MOVERS...
Reliance Infrastructure surged 4.5% to Rs 458. Grasim rallied 4% to Rs 1,416.
TCS, Jaiprakash Associates and Hindalco moved up around 3.5% each to Rs 461, Rs 65 and Rs 39, respectively.
Sterlite gained over 3% at Rs 245. Wipro and ONGC advanced around 2.5% each to Rs 206 and Rs 664, respectively.
ACC added 2% to Rs 541. Maruti and Tata Power were up 1.3% each at Rs 681 and Rs 674, respectively.
...AND THE SHAKERS
ICICI Bank plunged over 4% to Rs 284. HDFC tumbled over 3% to Rs 1,162, and SBI slipped nearly 2% to Rs 958.
BHEL shed nearly 2.5% at Rs 1,333.
VALUE & VOLUME TOPPERS
Reliance topped the value chart with a turnover of Rs 234.20 crore followed by Akruti City (Rs 229.60 crore), ICICI Bank (Rs 211.90 crore), SBI (Rs 130.37 crore) and Educomp Solutions (Rs 119.56 crore).
Cals Refineries led the volume chart with trades of around 1.56 crore shares followed by ICICI Bank (72.95 lakh), Satyam (69.15 lakh), Gateway Distriparks (62.45 lakh) and Tata Steel (58.88 lakh).
