Sensex up by 32 points during early trade
The Bombay Stock Exchange Benchmark 30-share Index on Friday made a strong turnaround after a weak start and was quoted up by 32 points at 10.30 am on fairly good buying support from investors at the weekend.
The Sensex opened marginally lower at 8525.80 as against Thursday's close of 8528.70 but later rallied smartly to a high of 8574.19 before being quoted at 8560.71 at 10.30 am.
The market seemed to be on a recovery path after having consolidated during a sharp slide in the past days, brokers said, adding "the economic fundamentals are strong and second quarter working results to be announced next week onwards are likely to prompt a fresh price rally".
Easing in crude prices is also seen as a positive factor for the market, they added.
Analysts, however, felt that the market is still in overbought zone and a big correction is necessary for its good health. FII inflows also are expected to slow down in the near future.
The Sensex opened marginally lower at 8525.80 as against Thursday's close of 8528.70 but later rallied smartly to a high of 8574.19 before being quoted at 8560.71 at 10.30 am.
The market seemed to be on a recovery path after having consolidated during a sharp slide in the past days, brokers said, adding "the economic fundamentals are strong and second quarter working results to be announced next week onwards are likely to prompt a fresh price rally".
Easing in crude prices is also seen as a positive factor for the market, they added.
Analysts, however, felt that the market is still in overbought zone and a big correction is necessary for its good health. FII inflows also are expected to slow down in the near future.
posted by Sensex-Blog Admin at 1:14 AM
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