Sensex reverses trend, inches up in late morning deals

Wednesday, Jan 6, 2016,12:01 IST By metrovaartha A A A

Mumbai | In a range-bound momentum, the BSE Sensex recovered slightly by 6 points in late morning trade Wednesday amid bouts of value-buying in energy, telecom, utilities, capital goods and oil&gas stocks amid mixed Asian cues.

Lack of definite cues continue to restrict the momentum as indices trading with small gains and losses amid volatility. The BSE Sensex resumed higher at 25,628.23 and hovered between 25,632.57 and 25,502.96. It was quoting 25,586.06 at 1110 hours, up 5.72 points or 0.02 per cent. The 50-share Nifty was also trading up by 5.65 points or 0.97 per cent to 7,790.30 at 1110 hours.

Major gainers from the Sensex were RIL (2.63 pc), GAIL (1.94 pc), Bharti Airtel (1.84 pc), Cipla (1.43 pc) and HDFC Bank (1 pc).

Meanwhile, foreign investors sold shares worth Rs 352.42 crore yesterday as per provisional data. Overseas, Asian markets witnessed a mixed trend, stocks edged higher in mainland China on reports that China will keep in effect a ban on share sales by listed companies’ major shareholders until new rules are promulgated.

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