Marginal Gain Stanches Fall

Bourses settled fractionally higher snapping a two-session losing streak today. After trading in a narrow band, the Bombay Stock Exchange sensex settled with a gain of 0.91 points at 3,312.07, but off from its intra-day high of 3,321.92.

Dealer said investors were uneasy about maintaining open positions ahead of the weekend following developments on the India-Pakistan border.

On the National Stock Exchange, the S&P CNX Nifty settled 2.85 points higher at 1,085.70. Selective buying in some old economy stocks were offset by losses in technology stocks.

However, FMCG counters such as Nestle India (up 1.22 per cent to Rs 510), Colgate Palmolive (up 1.02 per cent to Rs 143.40), ITC (up 0.76 per cent to Rs 613.50) and Hindustan Lever (up 0.03 per cent to Rs 202) attracted defensive buying.

 

Among other blue chips, Tata Steel (up 2.37 per cent to Rs 132), Hindalco (up 2.07 per cent to Rs 710) and HPCL (up 1.84 per cent to Rs 289.95) also gained ground.

Meanwhile, defensive buying was also witnessed in pharma stocks. Key shares such as Dr Reddy