Sensex snaps 4-session of losses

In an otherwise volatile trade, fag-end short-coverings on the last day of expiry of August series helped the benchmark sensex not only recover its early losses but snapped straight 4-session of losing string, ending up by about 51 points at 17,541.64, despite weak global cues. Heavyweights like TCS, HDFC, HDFC Bank, Tata Motors, HUL and SBI finished with gains while Tata Steel, Jindal Steel, Sterlite Ind, GAIL, Maruti Suzuki and Hero MotoCorp settled with losses. In all, 10 out of 13 sectoral indices closed in the green with Realty, Pharma, IT, Banking and FMCG segments at the forefront, while Metal, Oil&Ref and Auto sectors continued to attract profit-booking. The Bombay Stock Exchange 30-share barometer resumed lower and touched nearly a 4-week low of 17,367.55, remaining in negative terrain till 15:00 hrs. However, last half an hour of buying in the form of short-coverings on the last day of Futures & Options segment today aided the sensex to recover all of its initial losses and ended up by 50.83 points or 0.29 pct at 17,541.64. In last four sessions, it had tumbled by 359.41 points or 2.01 pct. Similarly, the broad-based NSE Nifty also logged its 4-week low of 5,255.05 earlier but rebounded on late buying to end at 5,315.05, showing a rise of 27.25 points or 0.52 per cent. From gulftoday