Date:30/06/2006 URL: http://www.thehindu.com/2006/06/30/stories/2006063004881500.htm

Business

Sensex surrenders early gains

MUMBAI: Fag end selling on concern over the U.S. Federal meeting and the expiry of June contract washed out major part of early gains but the Bombay Stock Exchange benchmark Sensex still managed to close by over 32 points higher at 10162.16 on Thursday.

Taking a cue from firm global trend and also short-covering on the last day of the Futures & Options (F&O) segment, the 30-share sensitive index (Sensex) opened sharply up at 10193.94 and surged further to a high of 10326.05, recording a rise of 206.35 points in the afternoon dealings, dealers said. However, wary operators and retail investors took the opportunity to take profits at higher levels and the index dipped to a low of 10109.56 before closing at 10162.16 against 10129.70. On the National Stock Exchange, the S&P CNX Nifty recovered by 16.80 points to 2997.90.

According to market participants, all eyes are now set on the outcome of the upcoming Federal meeting. Smart rally in RIL, ONGC, HDFC, HDFC Bank, Hero Honda, Grasim, Infosys Technologies, Maruti Udyog, Tata Motors, Wipro, Ranbaxy and BHEL helped the Sensex land in the positive terrain at close. — PTI