Sensex up 68 pts in choppy trade

The BSE bellwether Sens*x advanced by 68 points on Wednesday as volatility became the order of the day ahead of the expiry of the November contract.

Despite a smart rally during the day, the market failed to sustain higher levels as investors booked profits at higher levels amid higher global cues and fresh recovery signs.

Prime Minister's Economic Advisory Council chairman C Rangarajan had said on Tuesday that economic growth was picking up, but the biggest worry was rising inflation which is expected to be around 6.5 percent at the end of this fiscal.

Brokers said the market is bullish on the back of ample liquidity in the system following continued capital inflows into the market.

Touching a one-month intra-day high of 17,290.48, the BSE barometer settled at 17,198.95 points, managing to gain just 67.87 points or 0.40 percent over its previous close.

Among the Asian markets, the Shanghai Composite Index made a smart rally of 2.07 percent after the steep 3.45 percent fall on Tuesday.

Hong Kong's Hang Seng gained 0.84 percent, the Tokyo rose by 0.79 percent, after robust economic data showed that its exports dropped the least in over a year in October, while Singapore moved up 0.46 percent.

However, back home as the day progressed, the market breadth wore thin and majority of the mid-cap and small-cap counters closed in the red.