Sensex pares gains, ends slightly higher

The Indian benchmark Sensex on Tuesday recovered most of its overnight losses and rose by nearly 27 points on firm global trends to end at nearly 3-month high of 17,425.71 on buying in consumer durable, realty and PSU counters.

HDFC, Bharti Airtel, ICICI Bank, ONGC, Coal India, Gail India and Hindalco attracted good buying support while ITC, TCS and HUL remained on the sellers list for the second day which restricted the sensex gains.

The Bombay Stock Exchange 30-share barometer resumed higher and touched a high of 17,526.82, up by nearly 128 points but reacted downwards at the fag end to a low of 17,351.50 before concluding at 17,425.71, showing a net rise of 26.73 points or 0.15 per cent.

The wide-based NSE NIfty 50-issue also edged up by 9.35 points or 0.18 pct to 5,287.95.

Meanwhile, foreign institutional investors (FIIs) bought shares worth Rs 591.06 crore yesterday, as per provisional data from the stock exchanges.

Second line stocks attracted good buying support on retail investors buying and outperformed the Sensex as the BSE-Smallcap index rose by 0.80 pct and the BSE-Midcap by 0.48 pct respectively.

Asian stocks ended higher on hopes that central banks in the US and Europe may ease monetary policy to spur economic growth.