Market ends flat after roller-coaster ride
Scaling a fresh intra-trade peak of 19,174.45 at initial stages, the BSE tumbles to the day's low of 18,777.75 before ending the day at 19,051.86.business Updated: Oct 16, 2007 17:31 IST
The stock market on Tuesday ended flat but well above the 19K mark after a roller-coaster ride on alternate bouts of buying and selling amid weak global cues.
The market bounced from the day's low it touched during mid-afternoon trade and again came under pressure as domestic investors continued to book profits at higher levels.
Scaling a fresh intra-trade peak of 19,174.45 at initial stages, the Bombay Stock Exchange (BSE) 30-share Sensex later tumbled to the day's low of 18,777.75 before ending the day at 19,051.86, down 6.81 points from Monday's close.
The broader S&P CNX Nifty of the National Stock Exchange (NSE) also closed slightly lower by 2.35 points at 5,668.05 from previous close of 5,670.40.
According to provisional data, Foreign Institutional Investors (FIIs) pumped in about Rs 2,868.59 crore while domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 281 crore on October 15.
Market players said local funds remained sellers for the past fortnight and were believed to have unloaded sizeable chunk of shares during the day.
The high level of liquidity has been driving the market to new heights on day to day basis and the market is still considered extremely bullish on expectations of sustained inflows in the future.
FIIs have poured in more than Rs 18,000 crore in equity so far in the month, taking the total investments in the current year to Rs 70,000 crore, the biggest in any single year.