A smart pull-back after its overnight battering failed to sustain,as cautious investors still having 'Mauritius' in their minds treaded carefully,though the benchmark S&P CNX Nifty ended marginally higher by 17.95 points at the National Stock Exchange (NSE) here. The bourses witnessed a panic sell-off on Monday with confusion prevailing over reports of capital gains tax on investments routed from Mauritius. As expected the market saw a technical bounceback in opening trade with investors resorting to bargain hunting along with short-covering taking the key index to trade above the 5,300 levels. But,the market saw heavy profit booking at every rise making it difficult to maintain the momentum. Buying in heavyweights IT and Pharma stocks helped the market to end up with a modest gains. While,FMCG,Banking and Capital Goods were the culprit bringing down the key index. The 50-share index shuttled between a high of 5,322.45 and a low of 5,257.00 before ending at 5,275.85,a modest gain of 17.95 points,or 0.34 per cent,from its previous close. TCS,IDFC,Sun Pharma,Reliance,Grasim,Ambuja Cement,HDFC,Axis Bank,HDFC Bank and Ranbaxy were the top gainers from the Nifty. However,JP Associates,DLF,Reliance Infra,BPCL,Maruti,SBIN,SAIL,Seimens,PNB and L&T were the notable losers. Turnover in cash segment dropped to Rs 9,591.64 crore from Rs 12,099 crore yesterday. A total of 5,759.39 lakh shares changed hands in 53,16,206 trades. The market capitalisation stood at Rs 62,59,052 crore.
