Sensex trims early gains, still up by 57 pts

The benchmark S&P BSE Sensex trimmed its early gains but was still quoted higher by 57 pts on the back of fresh buying mainly in refinery, metal, auto, health care and capital goods stocks in view of firm Asian cues.

Persistent capital inflows from foreign funds also boosted the market sentiment. Foreign institutional investors (FIIs) bought shares worth a net Rs 116.06 crore yesterday as per provisional data from the stock exchanges.

The Sensex resumed higher at 21,177.77 and hovered in a range of 21,230.88 and 21,122.68, before quoting at 21,199.65 at 1030 hours, showing a rise of 56.64 points or 0.27 per cent from its last close.

The NSE 50-share Nifty also moved up by 16.70 points or 0.27 per cent to 6,307.80 at 1030 hours.

Major gainers were Tata Power 2.19 pct, RIl 1.01 pct, Coal India 0.93 pct, Bajaj Auto 0.72 pct, Tata Motors 0.65 pct, Gail India 0.64 pct and Hero Motor 0.61 pct.

Asian stocks edged higher on the last trading session of the year as energy shares advanced. Key benchmark indices in China, Hong Kong, and Singapore were up 0.32 pct to 0.87 pct, while Taiwan's Taiwan Weighted fell 0.02 pct. Stock markets in Japan, South Korea, Indonesia, Thailand, the Philippines and Vietnam were closed for holidays.