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Sensex edges up 36 pts in range-bound trade, global cues

Mumbai: Sensex made a mild recovery to close at 36 points higher at 31,245.56, backed by uninterrupted buying by domestic institutional investors amid positive global cues.

After a strong opening, the BSE 30-share gauge advanced to hit a high of 31,284.64 but succumbed to profit-booking and hit a low of 31,177.78 before settling at 31,245.56, up 35.77 points, or 0.11 per cent. It remained range-bound throughout the day.

The gauge had shed 11.83 points in the previous session.

The 50-share Nifty managed to maintain its key 9,600-mark and scaled a high of 9,643.65 before finally ending at 9,637.60, up 24.30 points, or 0.25 per cent.

Meanwhile, the services sector activity in India rose to an eight-month high of 53.1 in June, driven by a sharp jump in new work orders, suggesting an economic rebound going forward, the Nikkei India PMI survey said today.

The broader markets too were on a firm trend as retail investors widened their bets. The BSE small-cap index rose 1.12 per cent and mid-cap index gained 0.97 per cent.

PTI