Sensex rises 22.18 points

After fluctuating 350 points in highly volatile trading on Thursday, the Sensex ended barely 22 points up at 18,618 in late sell-off amid lingering concerns over bomb blasts and spurt in inflation, which fanned worries that interest rates will go up further.

Stock markets opened on an anxious note, down about 150 points, after last evening's bomb lasts in the city which killed 21 people and injured 140, but later surged over 200 points only to erase gains in fag-end buying.

Meanwhile, although lower-than-expected, overall inflation surged to 9.44 per cent in June from 9.06 per cent in May. For April, the numbers were revised upwards to 9.74 per cent. Food inflation also shot up to 8.31 per cent for week ended July 2, from 7.61 per cent in the preceding week.

The Bombay Stock Exchange 30-share barometer started weak and touched a low of 18,449.23. However, it rebound to 18,803.05 -- up 207 points. But heavy profit-booking in the last few minutes pulled it down to close at 18,618.20, up 22.18 points or 0.12 per cent.

Banking counters, mainly ICICI and SBI, notched up good gains and were major contributers to the market gains. ICICI Bank closed up 1.40 per cent and SBI 1.39 per cent.