By IANS
Mumbai : Indian shares Monday staged a smart rally in early trade before taking a beating in the last hour with a key index closing up 0.14 percent.
The 30-share benchmark Sensitive Index or Sensex of the Bombay Stock Exchange (BSE) rose to over 1 percent in early trades but closed the day with a gain of only 19.6 points or 0.14 percent at 14,083.41, with only 12 of its components trading in the green.
The broader 50-issue National Stock Exchange (NSE) index, Nifty, was up 0.6 points or 0.01 percent to close at 4,145.60
Top two-wheeler maker Hero Honda Motors led the Sensex gainers, up 3.24 percent at Rs.702.90, followed by tobacco major ITC, up 2.12 percent at Rs.153.90 and top aluminium producer Hindalco Industries, up 2.06 percent at Rs.160.95.
Index heavyweights like second-ranked software exporter Infosys Technologies, second largest private sector lender HDFC Bank, state-run thermal power producer NTPC, top housing finance company HDFC, top private sector firm Reliance Industries, state-owned heavy electrical equipment maker BHEL and fourth largest software exporter Satyam Computers were among the other major stocks that closed higher.
Telecom service provider Reliance Communications led the major Sensex losers, down 2.18 percent at Rs.504.95, followed by textile major Grasim Industries, down 1.91 percent at Rs.2,346.60 and top lender state-run State Bank of India, down 1.25 percent at Rs.1,339.75.
Pharma major Dr. Reddy's laboratories, top steel maker Tata Steel, second largest software exporter Wipro, private sector energy producer Reliance Energy, private sector telecom service provider Bharti Airtel, top consumer goods producer Hindustan Lever and cement major ACC were among the other major index stocks that traded in the red.
The day saw India's top property developer DLF Ltd making a debut in the primary market with 40 percent of its $2.4 billion IPO being lapped up within an hour of the opening.