Mumbai, February 12, 2008 - In a volatile trade, the Bombay Stock Exchange benchmark Sensex today gave up part of initial gains and was quoted 111 points up at 16,742.02 at 1030 hours, amid firm global cues and negative FII activity.

According to Hindu, Asian markets rallied smartly in morning trade following a bounce on Wall Street Mondayy that failed to dispel fears about a US recession.

Touching a high of 16,966.72, the BSE barometer moved erratically in a 375-point range and was quoted at 16,742.02 at 10.30 am, a gain of 111.11 points from previous close of 16,630.91.

The broader S&P CNX Nifty of the National Stock Exchange also recovered by 21.15 points to 4,878.15 at 10.30 am from last close of 4,857.

The key market driver, Foreign Institutional Investors (FIIs) were net sellers to the tune of Rs 1,268.67 crore in equity on February 11, as per provisional data.

FII numbers were the main cause of concern for investors, with bears taking a top position in the market, brokers said.