Sensex spurts 96 pts in see-saw trade; metals shine

Benchmark Sensex rebounded by about 96 points to end at 34,427.29 today, led by robust buying in metal stocks amid mixed global cues.

Investor sentiment was optimistic ahead of quarterly earnings of some key companies, including TCS.

Overseas, Asian stocks rose, building on gains a day earlier, even as oil prices climbed to three-and-a-half year highs.

The 30-share Sensex resumed higher and advanced to 34,478.82, but soon slipped on profit-taking to touch a low of 34,358.91. It finally ended 95.61 points, or 0.28 per cent, higher at 34,427.29.

The gauge had lost 63.38 points in the previous session.

The NSE 50-share index, after moving between 10,572.20 and 10,546.20, ended at 10,565.30, up 39.10 points, or 0.37 per cent.

The BSE Metal index zoomed more than 4 per cent on global commodity prices.

Nalco, Hindalco, Vedanta, SAIL, JSW Steel, Jindal Steel Hindustan Zinc, Tata Steel and NMDC finished with gains of up to 9 per cent.

IT stocks rose as the rupee hit a fresh seven-month low against the US dollar after international crude oil prices surged.

On a net basis, domestic institutional investors (DIIs) bought equities to the tune of Rs 869.70 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 915.71 crore, as per provisional data.