Sensex gains 53 points; Nifty reclaims 10900 mark

Sensex gains 53 points; Nifty reclaims 10900 mark
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Mumbai, Jan 17: Benchmark indices closed higher for the third straight session Thursday on stock-specific action amid mixed cues from the global markets.
After gyrating nearly 300 points, the BSE Sensex settled 52.79 points, or 0.15 per cent, higher at 36,374.08. The broader NSE Nifty inched up 14.90 points, or 0.14 per cent, to 10,905.20.
In the Sensex pack, Axis Bank, HCL Tech, M&M, TCS, HDFC, Kotak Bank, PowerGrid, Hero MotoCorp and Vedanta were among the top gainers, rising up to 1.91 per cent.
Sun Pharma was the biggest loser, cracking 5.78 per cent. Other laggards were Yes Bank, SBI, Bajaj Finance, Tata Steel, Bharti Airtel and ONGC, declining up to 3.31 per cent.
RIL and HUL declined up to 1.12 per cent ahead of their quarterly results.
Indices swung between positive and negative territory as uncertainty prevailed ahead of the interim budget and key corporate results, said Paras Bothra, President, Equity Research, Ashika Group. IT stocks supported the market on account of weaker rupee, while real estate stocks also witnessed positive momentum as there are signs that worst may be over for the sector, Bothra added.
According to Vinod Nair, Head of Research, Geojit Financial Services, global trade tensions and risk of recession will cast cloud over the sentiment while lack of major triggers in the domestic market could steer a range-bound movement in the near term.
On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 90.10 crore on Wednesday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 304.27 crore, provisional data available with BSE showed.