MARKET ENDED 06.02.2010 SATURDAY SHORT TIME TRADING

Indian shares snapped a two-day falling streak to close 0.8 percent higher on Saturday buoyed by overnight gains on Wall Street, but investors remained cautious about European debt and the global recovery. The market for the shorter term is oversold and Wall Street's recovery added to the rally,There is some bounce back because of this short coveringThe market can see selling coming back at slightly higher levels on Monday or Tuesday due to Europe's debt problems and reversal of dollar carry trade,

The benchmark 30-share BSE Index ended up 0.79 percent, or 124.72 points, at 15,915.65 in a special 90-minute trading session held by the stock exchanges to help the National Stock Exchange (NSE) test an upgraded trading system. The index, which fell 2.7 percent on Friday to its lowest close in three months, dropped 2.7 percent on the week to record its third straight weekly fall.
Top gainers on the Sensex were Hindalco at Rs 140.70 up 1.88%, DLF at Rs 315.20 up 1.86%, Jaiprakash Asso at Rs 127.30 up 1.64%, Tata Steel at Rs 558.40 up 1.44% and Sterlite Ind at Rs 745 up 1.15%.
However, top losers on the Sensex were Hero Honda at Rs 1,575 down 0.7% and ICICI Bank at Rs 797.90 down 0.06%.
Index heavyweights Reliance Industries and Infosys Technologies led the gains on Saturday by rising 1.3 percent and 1.6 percent, respectively. These two stocks have a combined weightage of about 23 percent in the main index.

In the broader market, 1,951 gainers beat 619 losers on a total volume of 90.4 million shares. The 50-share NSE index ended 0.82 percent higher at 4,757.25 points.