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Early gains erased, Sensex down by 132 pts in morning

The 30-share index opens strong at 20,103.44 and rallies to a new peak of 20,238.16, within minutes of resumption of trading.
PTI | By HT Correspondent, Mumbai
UPDATED ON OCT 30, 2007 12:06 PM IST

The benchmark Sensex touched an all-time high of 20,238.16 points within a few minutes of opening, but profit booking ahead of the announcement of RBI mid-term policy eroded early gains.

The Bombay Stock Exchange (BSE) 30-share Sensex opened strong at 20,103.44 and rallied further to a new peak of 20,238.16, up 260.49, within minutes of resumption of trading.

Later, profit-selling washed out all early gains and the index fell back before quoting at 19,845.23 at 10.30 am, down by 132.44 points.

Later today, the RBI is going to review its mid-term annual policy and the US Federal Reserve will meet tomorrow to review its monetary policy and the outcomes of meetings of these central banks will impact the market sentiments.

On Monday, the Sensex had registered the third-biggest single day absolute rise of 734.50 points.

The broad-based S&P CNX Nifty of the National Stock Exchange (NSE) also logged a new high of 5,971.70 before being quoted down by 46.40 points at 5,859.50 at 10.30 am from previous close of 5,905.90.

Meanwhile, Asian indices were trading mixed with downward bias.

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