Sensex ends moderately higher in volatile trade

Mumbai: The BSE benchmark Sensex on Wednesday ended higher by 30 points after a volatile trade as investors indulged in adjusting their portfolios on easing political concerns and dropping crude oil prices.

The 30-share index of the Bombay Stock Exchange closed with a moderate gain of 30.30 points at 18,469.95. During the day, the barometer touched a high of 18,583.30 points and a low of 18,303.80 points.

In similar fashion, the broad-based National Stock Exchange index Nifty closed up by 10.20 points at 5,531 points.

Putting to rest political worries, the DMK, an ally of the UPA government at the Centre, agreed to a seat sharing deal with the Congress for the coming Tamil Nadu elections.

A better trend in the Asian region as cheer from a drop in crude oil prices also supported the market to some extent.

Crude oil prices fell from 29-month high in global markets, eroding inflationary concerns and reducing fears of another interest rate hike.

The maximum support to the gauge came in from stocks in realty, consumer durables, auto and power sectors, while weak trend in healthcare and IT sectors on profit selling mainly capped the gains.

Market leader Reliance Industries gaining nearly 1 per cent also supported the market.

The realty sector index gained the most by rising 1.74 per cent to 2,106.44 followed by consumer durable index by 0.88 per cent to 5,791.41. The auto index rose by 0.72 per cent to 8,854.54 and power index by 0.48 per cent to 2,597.79.

As investors indulged in adjusting their portfolios with low value strong stocks, smallcap index rose by 0.82 per cent to 8,009.65 and midcap index by 0.65 per cent to 6,604.72.