Sensex cut initial gains, still up 100 points in late morning
The benchmark BSE Sensex retreated
from record level, still trading up by 107 points in late
morning trade due to profit booking mainly in energy and
select banking and financials stocks.
Metals, Teck, auto, telecom, healthcare and FMCG stocks
continued to gain helping the index trade in the green.
Both the Sensex and the Nifty had hit record high in
early trade. Positive trade data and encouraging comments from
IMF chief on the outlook for Indian economy cheered investors.
Also, market sentiment was buoyant in a truncated trading week
ahead of Diwali.
The 30-share Sensex, resumed higher at 32,488.23 and
hovered in a range of 32,687.32 and 32,445.43 before quoting
32,540.47 at 1130 hours, still showing a rise of 107.78 points
or 0.33 per cent from its last close.
The NSE 50-share Nifty was also trading up by 34.20
points or 0.34 per cent to 10,201.65 at 1130 hours.
Major gainers were, BhartiAirtel 2.05 pct, Cipla 2.04
pct, Tata Motors 1.78 pct, Hindunilever 1.72 pct, M&M 1.61
pct, TataMtrDvr 1.45 pct and Dr Reddy 1.28 pct.
However, Axis Bank fell 2.07 pct, Reliance by 1.11 pct
and SBIN 0.51 pct.
Closer home, foreign portfolio investors (FPIs) sold
shares worth a net Rs 1698.50 crore last Friday, as per
provisional data released by the stock exchanges.
Domestic institutional investors (DIIs) bought shares
worth a net Rs 1590.13 crore, as per provisional data.
In overseas markets, Asian stocks edged higher as
investors digested the release of China inflation data.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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