Sensex crosses 16,900-mark in two-way trade
The benchmark Sensex crosses the 16,900-mark in morning deals on alternate bouts of buying and selling, ahead of expiry of the September contract on Thursday.business Updated: Sep 25, 2007 12:44 IST
The benchmark Sensex crossed the 16,900-mark in morning deals today on alternate bouts of buying and selling, ahead of expiry of the September contract on Thursday.
The BSE 30-share Sensex resumed slightly better at 16,890.75 and immediately dipped to a low of 16,811.00 on weak global cues.
But emergence of buying and short-coverings at lower levels ahead of the expiry of September series on Thursday pulled it back to a high of 16,915.91 before being quoted at 16,826.97 at 1030 hrs, a mere fall of 18.86 points over yesterday's close of 16,845.83.
The broad-based S&P CNX Nifty of the National Stock Exchange (NSE) also moved in a range of 4,953.90, a new intra-day peak, and 4,915.00 before quoting at 4,920.95 at 1030 hrs from previous close of 4,932.20, a decline of 11.25 points.
Realty and capital goods counters attracted fresh profit -booking at higher levels.
Top heavyweight and gainer in the current rally Reliance Industries (RIL) also fell on selling.
Foreign Institutional Investors (FIIs), the main driving force behind current rally, remained heavy buyers after US rate cuts on September 18. They picked up shares worth 6,228.83 crore since September 19, including overnight provisional figures of Rs 1,190.53 crore.
Meanwhile, most of the Asian indices were trading in negative terrain following feeble trend on Wall Street on Monday.