Sensex trims intial gains, still up 28 points

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Mumbai, November 6:Volatility continued on the bourses as key benchmark indices trimmed its initial gains but was still up by 28 points in late morning trade.

Sustained selling was seen in healthcare, metal, power, metal and auto sectors, while IT, realty, teck and capital goods show some mild buying.

The 30-share index, Sensex, resumed lower at 26,284.01, and hovered in a range of 26,438.86 and 26,190.18 before quoted at 26,331.94, at 1115 hours, showing a rise of 27.74 points, or 0.11 per cent, from its last close.

The Nifty is currently hovering below the psychological 8,000 mark after moving past that mark for a brief period in early trade.

The NSE 50-share Nifty were also modestly higher at 14.25 points, or 0.18 per cent, to 7,969.70 at 1115 hours.

Major gainers were, SBI by 2.90 pct, Infosys by 1.54 pct, HDFC by 1.23 pct, Larsen by 1.22 pct, BhartiAirtl by 1.07 pct and Reliance by 1.00 pct.

However, Dr Reddy dropped by 12.99 pct followed by Tata Steel by 2.35 pct, GAIL by 2.02 pct, Tata Motors by 1.15 pct, ICICI Bank by 1.11 per cent and SunPharma by 0.90 pct.

Meanwhile, Foreign portfolio investors (FPIs) sold shares worth a net Rs 991.87 crs yesterday, as per provisional data released by the stock exchanges.

In overseas markets, Asian shares were trading mixed as investors braced for US employment data that is expected to add to the case for a Federal Reserve interest rate hike as early as next month.

US stocks ended yesterday's session with modest losses after a mixed spate of earnings, as investors waited for the non-farm payrolls report.

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