Sensex gained 36 points, closing in the positive territory for the fourth day in a row. The benchmark index has gained 310 points in the last four trading sessions.

Trading on BSE started on the weak note at 21,320 against the previous close of 21,338. It touched a high of 21,410 and low of 21,265, before closing at 21,374.

The turnover on BSE was down at Rs 1,863 crore against Rs 1,906 crore recorded on Wednesday.

On NSE, Nifty gained seven points to 6,346.

L&T gained three per cent to Rs 1,033 after the company reported that its net profit increased 12 per cent to Rs 1,136 crore. However, L&T cut its order inflow forecast for the year ending March to 15 per cent from 20 per cent due to the poor investment climate in India.

Cairn India rose one per cent despite the company reported 14 per cent fall in net profit to Rs 2,884 crore even as its revenue increased 17 per cent to Rs 5,000 crore in the December quarter.

The company said that December quarter profit was impacted primarily due to a foreign exchange loss on the dollar deposits with the rupee strengthening against dollar.

Most IT stocks edged lower on profit booking after recent gains. Tata Consultancy Services was down one per cent at Rs 2,254 while HCL Technologies and Tech Mahindra fell two per cent and one per cent to Rs 1,412 and Rs 1,829, respectively.

Major gainers were Gitanjali Gems (6%), Adani Enter (4%), Titan (4%), Coromandel Intl (3%), Strides Arco (3%), Indian Hotels (3%) and United Brew (3%)

Prominent losers were Biocon (-6%), Mahindra & Mah Fin (-6%), Godrej Cons (-4%), Future Retail (-4%), MCX (-4%), Financial Tech (-4%), Jain Irrigation (-4%) and United Phosphorus (-4%).

(This article was published on January 23, 2014)
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