The Hindu : Business : Sensex surrenders part of initial gains

Online edition of India's National Newspaper
Tuesday, Aug 01, 2006

Business

Business

Sensex surrenders part of initial gains

MUMBAI: Despite surrendering a major part of the early gains, the Bombay Stock Exchange benchmark index, Sensex, on Monday managed to close in the positive terrain with a moderate rise of 63.65 points at 10743.88, cutting short last Friday's brief downward correction.

Firm global advices, a flow of robust first quarter corporate results and easing global oil prices that fell below $73 a barrel, mainly boosted sentiment, dealers said.

The BSE-30 share sensitive index (Sensex) opened sharply higher at 10759.19 against last weekend's close of 10680.23 and touched a high of 10853.91. Later, it met with strong profit-taking and fell to a low of 10710.29 before closing at 10743.88.

On the National Stock Exchange, the CNX Nifty recovered by 12.40 points to close at 3143.20 against last Friday's close of 3130.80.

Foreign institutional investors were reportedly heavy buyers to the tune of Rs. 961 crore in the first four days of last week while domestic funds picked up shares worth Rs. 862.72 crore during the same period.

Attributing the initial strength to positive global advices, dealers said profit taking at the fag end trimmed a major part of the early gains. — PTI

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