Sensex trims initial gains, still up 151 points

Mumbai, May 20 : The benchmark S&P BSE Sensex trimmed its initial gains but was still quoted higher by 151 points on buying mainly in realty, metal, IT, teck, healthcare, consumer durable sectors in view of persistent foreign capital inflows into equity market.

Foreign institutional investors (FIIs) continued their buying spree by investing a net Rs 1,350.04 crore yesterday, according to provisional data from the stock exchanges.

A decisive mandate for the BJP-led NDA in the Lok Sabha polls also boosted the market sentiment.

The Sensex resumed higher at 24,555.31 and firmed up further to a high of 24,587.16 on initial strong buying. But, declined immediately to 24,353.03 before quoting at 24,513.88 at 1000hrs, still showing a gain of 150.83 points, or 0.62 per cent.

The NSE 50-share Nifty also moved up by 48.35 points, or 0.67 pct, to 7,311.90 at 1000hrs.

Major gainers were Hindalco (3.06 pct), SSLT (3.05 pct), Wipro (2.81 pct), Tata Steel (2.60 pct), Dr Reddy’s Lab (2.31 pct), Infosys (2.31 pct), BHEL (2.21 pct), TCS (2.21 pct) and Bharti Airtel (2.13 pct).

Most Asian stocks edged higher in their early trade. Key benchmark indices in Taiwan, Hong Kong, China, Singapore and Japan rose by 0.11 pct to 0.86 pct.