Sensex trims initial gains, still up by 16 points

The S&P BSE benchmark sensex trimmed its initial gains on Wednesday but was still quoted higher by 16 points in late morning deals on buying in realty, consumer durable, FMCG and metal sectors despite selling in IT, power and auto sectors.

The BSE-30 share index sensex opened higher at 19,865.99 and firmed up further to 19,900.68 on initial buying.

However, it declined afterwards to 19,775.29 in view of weak Asian cues before quoting 19,819.99 points at 1025 hours.

It still showed a gain of 15.96 points or 0.08% from its last close.

The NSE 50-share barometer Nifty also inched up by 1.50 points or 0.03% to 5,851.70 at 1025 hours.

Major gainers were Cipla (1.68%), Coal India (1.43%), HUL (1.31%), SBI (1.29%), Tata Power (1.19%) and Dr Reddy's Lab (1.16%).

However, HDFC dropped by 2.29% followed by M&M 1.05 (per cent), HDFC bank (1.03%) and Sun Pharma (0.98%).

Foreign institutional investors (FIIs) bought shares worth a net Rs 318.05 crore yesterday, as per provisional data from the stock exchanges.

Most Asian stocks fell in their early trade amid prospects that the Federal Reserve will announce today whether it intends to pare back economic stimulus.

Key benchmark indices in China, Taiwan, Hong Kong, and Indonesia shed by 0.07 to 0.72%, while indices in Singapore and Japan rose by 0.58 to 1.85%.


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