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Market closes with modest gains amid volatility

Indian indices
It was a highly volatile trade, with the markets witnessing huge swings during the day. Investors reacted to the developments in Libya. The markets showed sharp recovery in afternoon trade after the news that Libyan leader Muammar Gaddafi accepted peace plan to end crisis in North African country. But again there were reports from agencies that fresh air strike has hit Brega oil terminal in East Libya, which dragged markets lower. So there was no confirmation on any news from Libya side. However, another bounce back in the last hour of trade led the markets to close with modest gains.Capital goods, auto and realty stocks led the upmove while metals and oil & gas led the losers pack. Easing of food inflation also provided support.In the Midcap space, Bajaj Finserv was locked at 20% upper circuit as Bershire Hathway tied up with Bajaj Allianz for general insurance. Deccan Chronicle, Essar Shipping, IVRCL Assets and ING Vysya Bank were the other gainers. While, S Kumars Nationwide, Hathway Cable, Info Edge, Prestige Estate and Torrent Pharma were the major losers.

In the Smallcap space, Vindhya Telelink, KRBL, TTK Healthcare, TTK Prestige and Bartronics were the major gainers. While, Micro Tech, Fame India, Asian Hotel (E), Parenteral Drug and Shree Nath Commwide were the major losers.The Sensex began the session lower by 128 points at 18318 and traded weak, hitting the day's low of 18254 in mid morning session. Later, the Sensex pared losses and turned positive to hit the day's high of 18604 in early afternoon trade. The Session again turned negative in mid afternoon session and bounced back in the late trade to close extreme volatile trade with modest gains.

The Sensex rose 43 points to close at 18490 and the Nifty settled at 5536, up by 14 points

Market sentiment
The market breadth was almost neutral. Of the 2,949 stocks on the BSE, 1,425 gained while 1,417 fell. However, 107 stocks remained unchanged.
Viewing volumes
Leading infrastructure company . Lanco Infratech was traded the most, with over 1.28 crore shares changing hands on the BSE. Following that India's Number 2 mobile carrier - Reliance Communications (0.79 crore shares), India's second largest developer - Unitech (0.56 crore shares), wind turbine major . Suzlon Energy (0.52 crore shares) and Jaypee Group firm . Jaiprakash Associates (0.50 crore shares).