The Hindu Business Line : Sensex gains on volatile day, smells 12k

On a volatile day of trade, the Sensex came tantalisingly close to the 12,000-mark before being dragged down by profit-booking. The 30-stock benchmark index registered a record high at 11,986.09 points before closing at 11,895.98, a 74.41-point gain over Tuesday.

Sentiment boosters

Wipro's better than expected earnings, Standard & Poor revising its outlook on India to positive (from stable), and continued relief in the "no shocker" credit policy helped market sentiment.

The markets opened strong and stayed in the green till 2:00 p.m. Subsequently, heavy selling pressure from investors looking to book profits dragged stock prices down. Analysts say that even though the markets look poised to breach 12,000 level in the Sensex, psychologically participants are worried about the same.

Techs shine

Technology stocks continued to shine at the bourses. Infosys touched an intra-day high of Rs 3,374, before profit-booking ensued. The scrip closed at Rs 3,282. Wipro went up to Rs 598.90 and closed at Rs 559.90. HCL Technologies, which also announced its quarterly results today, however, saw disappointment as the scrip shed over 7.5 per cent to close at Rs 602.30.

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