BSE Sensex gains 20 pts in volatile trade

Written by PTI | Mumbai | Updated: May 8 2014, 22:51pm hrs
BSE SensexBSE Sensex recovers slightly from the 1 1/2 month closing low hit in the prior session.
The BSE Sensex today ended higher by 20 points at 22,344.04 after paring initial gains in volatile trade amid nervousness in markets ahead of Lok Sabha elections results on May 16.

Consumer durables, banking, auto and sectors gained, while realty and FMCG counters came under pressure.

After resuming higher, the 30-share index shot up to 22,443.13 on initial buying on the back of higher global cues after Federal Reserve Chairperson Janet Yellen said the Federal Reserve will continue to support the US economy.

The barometer, however, pared the gains and slipped to 22,344.04 at close on profit-booking, a meager gain of 20.14 points from its previous close.

The NSE Nifty also moved up by 7.30 points to 6,659.85.

"It was a dull session on street as the benchmarks were remained in a narrow range and closed flat in the end. Sluggishness would continue as participants are now keeping extra caution ahead of general election outcome," said Jayant Manglik, President, Retail Distribution, Religare Securities.

* Bharat Heavy Electricals gained 3.22 per cent, followed by * Cipla at 1.65 per cent, Tata Motors 1.36 per cent, ICICI Bank 1.33 per cent and Wipro 1.05 per cent.

* Hero MotoCorp 1.36 per cent the biggest loser. ITC lost 1.34 per cent.

Among the BSE sectoral indices, consumer durables rose by 1.30 per cent, followed by Bankex 0.74 per cent, Auto 0.58 per cent and capital goods 0.39 per cent, while realty dropped by 0.92 per cent and healthcare 0.32 per cent.