Sensex closes up 40 points after minimising early gains

The benchmark Sensex of BSE today closed higher by a moderate over 40 points after a fag-end selling by funds minimised the handsome gains it posted early trading.
     
The 30-share Sensex settled the day 17,451.02, a moderate gain of 40.45 points from its previous close.

In early trade, the barometer index surged over 120 points to the day's high of 17,530.79 points. However, a bout of selling towards the end of the day by institutional investors minimised the early gains.
     
The National Stock Exchange index Nifty also ending with a gain of 20.10 points to 5,225.30.
     
Marketmen said investors resorted to selling ahead of the current month settlement in the derivatives sector on Thursday. Also, tomorrow being a holiday on account of Ram Navami, investors squared off their positions, they added.
     
Among the 30 index stocks, 14 gained while 15 others ended with losses and Hindustan Unilever remained unchanged.