Sensex gains 111 pts in early trade | business | Hindustan Times
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Sensex gains 111 pts in early trade

business Updated: Dec 26, 2007 13:29 IST

The Bombay Stock Exchange benchmark Sensex rose during morning trade as investors continued to roll over positions to January series.

Operators and Foreign Institutional Investors (FIIs) were also covering short positions ahead of the expiry of December contract in Derivatives.

IT shares, however, met with resistance after Monday's surge as investors booked profits in these stocks at higher levels.

After touching a high of 20,036.00 in the initial 10 minutes of trade, the BSE barometer came under some pressure and was quoted at 19,965.18 at 10.30 am, up 111.06 points over Monday's close of 19,854.12 The broader S&P CNX Nifty of the National Stock Exchange also gained 33.10 points to 6,018.20 at 10.30 am from previous close of 5,985.10.

The market is expected to remain strong due to continued roll over and short covering of positions by investors at the end of derivative series, market players said.