Market still cautious, recovers in late morning deals
Mumbai, March 1 (PTI): Though still cautious about the impact of the Union Budget, the stock markets showed some semblance of steadiness in late morning deals, despite weak Asian markets.
After resuming higher at 13,013.74 from Wednesday's close of 12,938.09, the Bombay Stock Exchange (BSE) 30-share sensitive index moved in a range of 13,080.37 and 12,938.96 before being quoted at 13,027.34 at 10.30 am, showing a recovery of 89.25 points over yesterday's close.
The Sensex had registered the biggest fall of 541 points in the history of BSE on the day of Union Budget.
The broader S&P CNX Nifty also recouped by 16.55 points to 3,761.85 from previous close of 3,745.30.
Foreign Institutional Investors (FIIs) remained net sellers and they pulled out nearly Rs 1,932 crore (provisional) from cash segment yesterday.
However, domestic mutual continued their buying spree for the last few days.
Market analysts said operators and retail investors were still studying the total impact of the budget before making any fresh commitments.
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