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Uptrend halted on BSE, Sensex drops 61 points


MUMBAI: The Bombay Stock Exchange benchmark index, Sensex, swung between 10603.83 and 10787.65 on Friday before winding up 61.36 points lower at 10680.23 on alternate small bouts of buying and selling.

On the National Stock Exchange, the Nifty fell 25.35 points to 3130.80, after touching a high of 3168.50 and a low of 3109.45.

SBI, HDFC Bank and a few others rallied smartly lifting the Bank, small-cap and mid-cap stocks, thereby pushing the respective indices remarkably higher.

Indian share prices closed 0.57 percent lower Friday, snapping four days of gains, as investors locked in profits amid mixed Asian trends, dealers said.

Investors had moved into mid and small-cap stocks after sentiment was bolstered by strong first-quarter corporate earnings earlier in the week.

"Global trends kept larger funds away. We saw some buying interest in mid-cap stocks which saw the market breadth improve but in the week ahead we could see resistance as the Sensex heads closer to the 11000-mark," said Manoj Kakaiya, dealer at brokerage ULJK Securities.

Gainers led losers 1,366 to 1,014 on a volume of Rs. 2,763 crore.

PTI

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