Sensex rises 85 pts

In highly volatile trading, the BSE Sensex on Wednesday gained 85 points on buying in bluechips, including Reliance Industries and Infosys, amid foreign institutional inflows and positive foreign markets.

RIL rose 1.6 per cent on reports of being in talks with domestic airlines to provide jet fuel infrastructure and transport services. Infosys gained 1.6 per cent on estimates that the country’s information technology (IT) sector would cross the $100 billion-mark this financial year. The two scrips carry nearly 20 per cent weight on the Sensex.

In all, 11 of the 13 sectoral indices closed with gains. The BSE Healthcare and Bankex ended in the red. Consumer durables, realty, IT, metals, power and capital goods led the gains. The automobile sector performed well on reports of higher vehicle sales in January.

The NSE Nifty gained 33 points, or 0.6 per cent, to close at 5,368.2. FIIs, which have been investing in Indian equities since early this year, had bought shares worth Rs 618.8 crore yesterday, according to provisional data from the stock exchanges.