Sensex Ends Choppy Session Marginally Higher

(RTTNews) - The Indian markets ended a choppy session marginally higher on Friday as trading resumed after a holiday yesterday on account of Christmas holiday. While IT, metal and realty stocks saw good buying, consumer durable and FMCG stocks ended on a subdued note.

The benchmark S&P BSE Sensex moved in the range of 27,091-27,371 before closing up 33.17 points or 0.12 percent at 27,241.78. The broader CNX Nifty index ended at 8,200.70, up 26.60 points or 0.33 percent from its previous close.

IT stocks such as Infosys and TCS rose over a percent each after a report showed new claims for U.S. unemployment insurance fell for the fifth week in a row last week, a sign that the labor market is steadily improving as the year ends.

Spicejet shares soared 9 percent. The Economic times reported that a fund managed by JPMorgan Chase is in advanced talks to team up with the beleaguered carrier's co-founder Ajay Singh for a planned $200 million investment into the cash-strapped airline.

D B Realty jumped 8 percent on heavy volumes as the realty firm said it had received full occupation certificate for its project in the western suburb of Mumbai.

State-owned banks PNB, Canara Bank and Bank of India rose 1-3 percent. In a statement, the Finance Ministry said that Prime Minister Narendra Modi will hold discussions with bank chiefs on January 3 to work out an action plan for major reforms in the banking sector.

Zensar Technologies rallied 6.5 percent on bagging multi-million orders in infrastructure management business in the U.S.

Ruchi Soya Industries gained 5.5 percent. The government has raised import duties on both crude and refined edible oil by 5 percent.

Essar Oil shares rose 0.9 percent. The company announced that it would buy additional 73.99 percent stake in group company Vadinar Power Company to make it a wholly-owned subsidiary.

Reliance Capital shares pared early gains to end marginally higher. The Anil-Ambani led financial company has entered into a long-term strategic alliance with Japan's Sumitomo Mitsui Trust Bank to collaborate on various businesses, including in its proposed banking venture.

GSFC tumbled 4 percent after the RBI placed restrictions on further buying by overseas investors in the company's shares.