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Broader markets gain, sensex trades in tight range
January, 19th 2011

A benchmark index for an Indian equities market Wednesday was trading in a tight range even as broader  markets saw moderate buying activity.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,153.31 points, was ruling at 19,138.42 points - up 46.37 points or 0.24% from its previous close at 19,092.05 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange too was ruling tightly bound at 5,737.3 points, 13.25 points or 0.23% higher.

Broader markets were in the green with the BSE midcap index up 0.76% and the BSE smallcap index up 0.75%.

Metal stocks continued to rise. PSU and oil and gas scrips too were among major gainers, while capital goods and IT scrips fell on profit booking.

The market breadth was positive, with 1,747 stocks advancing compared to 955 scrips on the decline, while 105 stocks remained unchanged.

Among gainers on the Sensex were Sterlite Industries, Reliance Infra, Hindalco Industries and M&M, while the losers included L&T, Infosys, HDFC Bank and SBI.

After two days of weakness, most other Asian stock markets rose Wednesday amid strong earnings reports from companies in the US.

The Chinese Shanghai Composite index moved up 1.63% at 2,753.05 points, while Hong Kong's Hang Seng gained 0.92% to rule at 24,376.4 points.

The Japanese Nikkei closed 0.36% up at 10,557.1 points.

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