Sensex struggles to keep early momentum, IT a drag

Mumbai: The benchmark Sensex cut down its early gains today and the Nifty moved in a range after healthcare and IT counters came under selling pressure.

The Sensex resumed higher at 31,160.47 and firmed up to a high of 31,182.73 in view of higher global cues. However, it read 31,103.30 at 1213 hours, a gain of 27.57 points, or 0.09 per cent.

The NSE 50-share Nifty moved up marginally by 6.40 points, or 0.07 per cent, to 9,584.45 at 1213 hours. The big gainers were ITC 1.66 per cent, along with Tata Motors, M&M, GAIL and Coal India.

However, Lupin fell by 3.75 per cent. Dr Reddy’s Lab, Wipro, Cipla and Sun Pharma too retreated. Overseas, most Asian stocks were trading higher. US stocks fell for the fourth time in five days as selling in technology shares resumed.

Meanwhile, foreign funds sold shares net Rs 645.35 crore yesterday, as per the provisional figures.