Sensex closes up 85 points in volatile trade

Mumbai: In choppy trade, the Bombay Stock Exchange benchmark index Sensex recovered by 85 points on funds buying in bluechips, mainly in Reliance Industries and Infosys, amid a firming trend in the global markets.

The 30-share index settled with a gain of 84.87 points at 17,707.32 points. It moved between 17,809.21 and 17,579.59 during the session. It had fallen by 84.86 points in the precious session.

The broad-based Nifty of the National Stock Exchange rose by 33 points, or 0.62 per cent to 5,368.15, after dipping the day`s low of 5,325.20. It had lost 0.48 per cent in the previous session.

Trading remained volatile as profit-booking encased every jump in the benchmark. Top mobile operator Bharti Airtel plunged 6.58 per cent to Rs 354, after the company reported a fall in quarterly profit.

RIL rose by 1.57 per cent to Rs 858.05 on reports that the company is in talks with major domestic airlines to provide jet fuel infrastructure and transport services.

Infosys jumped up by 1.60 per cent to Rs 2,768.65 on positive cues from global markets. The two scrips carry nearly 20 per cent weightage on the Sensex.

A firming trend in the Asian region and higher opening in Europe as Greece leaders worked on a bailout package also boosted the sentiment.

The auto sector stocks remained star performer following reports a higher vehicle sales in January month.

Hero MotoCorp rose by 2.22 per cent to Rs 1,992.90, Maruti Suzuki by 1.83 per cent to Rs 1,267.90 and Ashok Leyland by 4.08 per cent to Rs 26.80.

Others on the higher side were Tata Consultancy Services, Wipro, GAIL India, HDFC, State Bank of India, Hindustan Unilever, Larsen and Toubro, Sterlite Industries, Bajaj Auto, Coal India, DLF and Hindalco.