Wednesday, Nov 05, 2003
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The BSE benchmark 30-share index which soared by over 399 points or 8.5 per cent in the last six sessions, opened firm at 5096.16 and later fluctuated erratically between 5135 and 5055.57 before ending at 5097.84 against yesterday's close of 5063.03, a net rise of 34.81 points. However, retail investors remained cautious as usual at the prevailing higher levels and booked profits by selling part of their holdings during the last 30 minutes. Initially, the market witnessed an all round buying, brokers said adding private mutual funds which earlier were considered to be major sellers on day-to-day basis, were believed to have made heavy purchases in many blue chips. The principal driving force foreign institutional investors remained net buyers having pumped in sizable funds in heavyweighted counters. The sentiment is expected to remain bullish on indication that there would be consistency in the flow of funds into Indian bourses from outside the country. Cement and healthcare stocks were in the forefront on purchases by foreign funds as well as operators. After early sharp rally, IT shares met with a strong resistance due to profit booking by retail investors. — PTI
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