Sensex trims initial gains, Nifty holds 8,200-mark

As volatility struck bourses in late
morning trade, Sensex surrendered early gains to dip below the
key 27,000-mark — still quoting higher by only 39 points,
while Nifty was trading flat but held the crucial 8,200-level.
Buying was mainly seen in healthcare, FMCG and energy
sectors while, power, metal, banking, IT, teck and basic
material stocks countered losses.
The 30-share Sensex opened higher at 26,756.66 and
hovered in a range of 26,769.32 and 26,608.96 before quoting
26,691.42 at 1045 hours, showing a rise of 38.61 points, or
0.14 per cent, from its last close.
The NSE 50-share Nifty was also trading marginally up by
3.10 points, or 0.04 per cent, to 8,227.60 at 1045 hours.
Major gainers were, GAIL by 3.13 per cent, ONGC 1.82
per cent, Cipla 1.79 per cent, Dr Reddy 1.29 per cent, HDFC
1.27 per cent, Reliance 1.27 per cent and Lupin 1.26 per cent.
However, AsianPaint fell by 2.76 per cent, PowerGrid 2.11
per cent, Tata Motors 1.38 per cent, ICICI Bank 1.38 per cent,
Bharti Airtel 1.08 per cent and SBIN 1.06 per cent.
Meanwhile, foreign portfolio investors (FPIs) sold shares
worth a net Rs 434.42 crore yesterday, as per provisional data
released by the stock exchanges.
In overseas markets, Asian stock markets rose today as
investor sentiment was boosted by news that the Organization
of Petroleum Exporting Countries (OPEC) has reached a deal
yesterday, to cut oil production.
US stocks ended on a mixed note yesterday, in a volatile
session of trade. Stocks retreated from their earlier highs
after the Beige Book suggested there were no signs of any
post-election euphoria and that the economy was expanding
moderately