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Sensex up by 85 points; ONGC & ITC lead gains

The market washed out major part of its early gains on selling after mid-session and came off from its intra-day one-month high of 19,640.27, still closing up by 85 points at 19,495.82 on firm global cues.

Buying was seen in some blue-chip counters from refinery, FMCG and metal segments as RIL, ONGC, ITC, HUL, Tata Motors and also HDFC Bank gained smartly and aided the sensex rise.

However, profit-booking in ICICI Bank, Bharti Airtel, TCS, M&M and GAIL capped the sensex surge to a major extent. The Bombay Stock Exchange 30-share barometer resumed strong with an upside gap of over 150 points following firm Asian cues and improved further to a one-month high of 19,640.27 before settling at 19,495.82.
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