Sensex flat: ends marginally higher
Mumbai: After opening higher the market moved in a narrow range, in line with specific activity in select counters. Banking, pharma and software scrips helped the benchmark index remain just above the 6,000 level.

The BSE Benchmark 30-share Index opened higher at 6019.85 against yesterday's close of 6016.58. The Nifty was up 3 points at 1891.20. As selling gained momentum, the index slipped to an intra-day low of 5,986. Fresh buying at lower levels saw the index recover and move back into positive zone. The index moved in a narrow range of 20 points till late noon deals. A fresh bout of buying in the last half-hour of trading led the index to an intra-day high of 6,035 - up 49 points from the intra-day low.

However, the index pared gains towards the close, and finished with a modest gain of nine points at 6,025.

Brokers said FII inflows were sustaining the market. Foreign funds have bought a net $508 million worth of equities this month, after pumping in more than $2 billion in the preceding three months.

The 30-issue Bombay Stock Exchange index, having closed above 6,000 for the first time in nine months on Wednesday, ended 0.15 per cent up at 6,025.47 points on Thursday.

The index has gained about 5 per cent in the past month. The 50-issue National Stock Exchange index gained 0.18 per cent to 1,892.05 points.

Boosted by rising interest rates, Punjab National Bank rose 7.2 per cent to Rs305.05; Bank of Baroda added 6 per cent to
Rs186.15 and Oriental Bank of Commerce rose 5.6 per cent to Rs273.6. SBI advanced 1.6 percent (Rs 8) to Rs522, ICICI Bank declined 1.4 per cent (Rs5) to Rs330, and HDFC Bank closed Rs4 lower at Rs478.

Housing finance company HDFC rose 3.3 per cent (Rs23) to Rs708 due to rising home loan rates.

Among pharma scrips, Lupin rose 2.2 per cent to Rs643.8 and Dr Reddy's Laboratories rose 1.8 per cent to Rs799.6. Ranbaxy was up 0.50 per cent on a report that the company plans to sell its animal health care, diagnostics and fine chemicals businesses.

Hindustan Lever fell 0.50 pc at Rs134.50 on a report that Procter & Gamble Hygiene & Healthcare plans to start selling a detergent bar.

Bharti Tele-Ventures, which began higher in early trading ended flat to Rs161.30. The company is targeting 25 million subscribers for its cellular- phone service in the next two years, its chairman Sunil Bharti Mittal has said.

Satyam Computer was up by 4.70 per cent, to Rs430 after a report that it is considering allowing shareholders to convert more domestic shares into American depositary receipts. Separately, the company plans to build a new software development centre in Chennai. Other gainers included Hughes Software Systems Ltd, which rose 5.7 per cent to Rs558.4, and CMC, which climbed 2.2 per cent to Rs711.95.

ITC slipped Rs6 to Rs1,130 while Reliance was up Rs2 at Rs546. HPCL slipped 1.9 per cent (Rs7) to Rs355. ONGC ended Rs 4 lower at Rs795.

Hindalco added Rs6 to Rs1,287, and Tisco was up a rupee at Rs312.

Larsen & Toubro rallied 1.5 per cent (Rs12) to Rs859.

Hero Honda lost 2.2 percent (Rs10) to Rs442, and Bajaj Auto slipped 2 per cent (Rs20) to 999. Maruti and Tata Motors were down a rupee each at Rs387 and Rs445, respectively.
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