Sensex ends with modest gains; telecom, cap goods lead

The Sensex rebounded in the second half of trade and closed the session with modest gains led by buying interest telecom, capital goods, metal and power stocks, and Heavyweight ICICI Bank with 2.5% gain. However, the benchmark indices saw consolidation in today's trade as well. Selling was seen in technology, FMCG, auto and pharma stocks.

Global markets were mixed in trade; European markets were marginally in the green while the US index futures were flat, at the time of closing of Indian equities. Asian markets ended mixed. Nikkei was down 1.4% and Taiwan Weighted down 1.5%. Straits Times fell 0.55% and Hang Seng declined 0.2%. However, Shanghai gained 0.45% and Kospi rose 1.14%. The US markets ended marginally higher on Wednesday.

Telecom space helped the markets; Idea Cellular surged 4.15%, as the company will seek shareholders nod to up borrowing limit to Rs 25,000 crore at AGM on December 21. Among others, Bharti Airtel rose 3.43% and Reliance Communications was up 2.15%. MTNL gained 1.41% and Tata Communications was up 1.19%.

Capital goods pack was the leader; BHEL went up 2.78% and L&T up 1.95%. However, Siemens was down 0.7% and ABB down 0.3%.

Metal stocks also witnessed buying interest. SAIL, Hindustan Zinc and Jindal Steel were up 1-1.5%. Hindalco, Tata Steel and
Sterlite Industries gained 0.5-0.9%.

The 30-share BSE Sensex closed at 17,189.31, up 64.09 points or 0.37%, after seeing day's range of 17,032.30-17,231.05. The 50-share NSE Nifty rose 0.44% or 22.65 points to settle at 5,134.65, it traded in a range of 5,084.65-5,146.45.