Sensex trims early gains, still up 98 points in late morning trade

Mumbai: A bout of volatility was witnessed in morning trade as key benchmark indices pared gains after surging, still up by 97 points in late morning trade following sustained buying mainly in auto, consumer durables, realty, capital goods and metal sectors amid firmness in Asian cues.

The 30-share index, Sensex, resumed higher at 26,704.02 and hovered in a range of 26,800.06 and 26,656.12 before quoted at 26,688.77, at 1115 hours, showing a rise of 98.18 points, or 0.37 per cent, from its last close. The NSE 50-share Nifty were also trading up at 20.90 points, or 0.26 pct, to 8,081.60 at 1115 hours.

Major gainers were, Tata Motors by 5.58 pct, Bajaj Auto 1.65 pct, M&M by 1.56 pct, HUL by 1.09 pct, HeroMotoco 1.00 pct, Hindalco by 0.91 pct and Vedl by 0.86 pct. However, GAIL fell by 0.78 pct, Tcs 0.69 pct, NTPC 0.66 pct, BhartiAirtel 0.59 and Reliance by 0.46 pct. Meanwhile, Foreign portfolio investors (FPIs) sold shares worth a net Rs 449.84 crs yesterday, as per provisional data released by the stock exchanges.

At the overseas, Asian shares rose in early trade, taking early cues from overnight Wall Street gains, while investors' sharper risk appetite lifted US debt yields and supported the dollar. US stocks finished higher yesterday, shrugging off lackluster corporate results to extend gains for a second session in a row, as energy shares helped prop up the main indexes.