Markets remain bullish at close, Sensex up by 51 pts

Mumbai, Aug 8 (PTI) In volatile trade, the markets overcame the initial setback today with the benchmark Sensex gaining over 50 points to remain above 15,000-level at close after falling below this crucial level in late morning trade.
The 30-share bellwether index on the Bombay Stock Exchange concluded the day at 15,167.82, a rise of 50.57 points, or 0.33 per cent, on fag-end buying support in metal and capital goods stocks.

The Sensex moved erratically in a range of 15,228.82 and 14,888.12 points The key index had gained 589.95 points, or 4.05 per cent, in four straight days, the sensex The S&P CNX Nifty of the National Stock Exchange also edged up further by 5.65 points or 0.12 per cent to 4,529.50 from last close.

Marketmen said inflation crossing the psychological 12 per cent for the week ended July 26 impacted investor sentiment. The Sensex had opened the day weaker by 117 points. Higher crude prices also added to the weak trend, they said.

However, trading was bolstered at fag-end of the session following announcement of investment policy for urea, linking cost of production to the import parity price.

The new urea investment policy was approved by the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Manmohan Singh.

On global front, Asian markets were trading mixed as key benchmark indices in Taiwan, Japan and South Korea were up by 0.30 per cent to 2.63 per cent while China, Hong Kong and Singapore were down by 0.69 per cent and 4.47 per cent respectively.

European markets edged higher in the afternoon trade as France, UK and Germany were up by 0.13 per cent and 0.58 per cent. PTI