Sensex up 23 points in pull-back rally in early trade
The Bombay Stock Exchange benchmrk 30-share index (sensex) today rallied smartly during the morning trading even as investors adopted a cautious approach ahead of announcements of second quarter results by corporates.
The sensex opened on a promising mote at 8516.44 as against Friday's close of 8491.56 and later surged up to a high of 8564.85 before being quoted at 8514.65 at 10:30 a.m., up by 23.09 points over the last close.
Key stocks attracted fairly good buying interest in a pull-back rally after a three-day slide, brokers said, adding, "Prices, however, met with resistance at higher levels due to profit booking by operators and retailers."
With fears of withdrawal by foreign institutional investors (FIIs), which reported net sales in the past week and a slowdown by mutual funds, operators and retailers seemed to be cautious ahead of announcements of corporate results from tomorrow onwards, brokers noted.
The market is likely to react negatively if the second quarter results fall short of investors expectations, a leading broker said.
The sensex opened on a promising mote at 8516.44 as against Friday's close of 8491.56 and later surged up to a high of 8564.85 before being quoted at 8514.65 at 10:30 a.m., up by 23.09 points over the last close.
Key stocks attracted fairly good buying interest in a pull-back rally after a three-day slide, brokers said, adding, "Prices, however, met with resistance at higher levels due to profit booking by operators and retailers."
With fears of withdrawal by foreign institutional investors (FIIs), which reported net sales in the past week and a slowdown by mutual funds, operators and retailers seemed to be cautious ahead of announcements of corporate results from tomorrow onwards, brokers noted.
The market is likely to react negatively if the second quarter results fall short of investors expectations, a leading broker said.
posted by Sensex-Blog Admin at 1:09 AM
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