Sensex closes .28% higher in choppy trade

Sensex closes .28% higher in choppy trade

Mumbai: The Bombay Stock Exchange’s benchmark Sensex closed 0.28% higher in choppy trade led by property and drug companies. The 30-share index rose 43.35 points to 15,465.40.

Dealers said the market, which has clocked eight straight days of gains, could consolidate as worries persist over the extent of the US subprime mortgage problem.

“The market is likely to be rangebound until global concerns ease. We are likely to see volatility," said Naresh Garg, chief investment officer with private sector Sahara Mutual Fund.

The 50-share Nifty of the National Stock Exchange closed flat, closing 4.50 points higher at 4479.

Afternoon slip

Shares fell into negative territory on 4 September, led by losses in ITC Ltd and Bharti Airtel Ltd , after earlier being up as much as 0.64%.

At 11:17 am the Sensex was down 0.10%, or 14.69 points, at 15,407.36, with 16 components in the red.

The market had risen nearly 9% over the previous seven sessions.

The 50-issue NSE index was down 0.08% at 4,471.05 points.

Early Morning trade

Mumbai: Indian shares opened 0.4% higher on 4 September, led by gains in ICICI Bank Ltd and Infosys Technologies Ltd .

At 9:55 am , the 30-share BSE index was up 60.08 points at 15,482.13, with 11 components rising.

The 50-issue NSE index was up 0.23% at 4,484.45.

Shares of Tata Motors fell 2.6% to Rs684.90 after it reported a 0.4% fall in August vehicle sales to 45,144 units from 45,325 a year earlier.

Paramount Communications jumped for the third straight day after the company said it had acquired UK’s AEI Cable. Its shares were trading 8.5% higher at Rs36.30.