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Intraday: Sensex up 146 pts, small-caps under pressure

Markets continues to witness high volatility as investors take to heavy selling in mid-caps and small-caps to raise funds for future IPOs.

business Updated: Jan 11, 2008 11:39 IST

The Bombay Stock Exchange benchmark Sensex was up 146 points at 10:30 am, even though the mid-cap shares fell further in late morning trade on heavy sell-off, amid release of better-than- expected third quarter results by IT major Infosys Technologies.

The market, however, continued to witness high volatility as investors took to heavy selling in the mid-cap and small-cap shares to raise funds for the forthcoming initial public offers (IPOs).

The Sensex was quoted at 20,727.79 at 10.30 am, up 145.71 points over yesterday's close of 20,582.08.

The BSE barometer touched a high of 20,805.10, a rise of 228 points immediately after resuming trading in response to Infosys excellent performance, which is seen as better than the company's guidance.

The broader S&P CNX Nifty of the National Stock Exchange also was up 19.90 points at 6,176.85 at 10.30 am from previous day's close of 6,156.95. It traded in negative territory for a few minutes.

Due to heavy sell-off pressure, the small-cap index was down 239.18 points or 1.86 per cent at 12,619.45 at 10.30 am, while the mid-cap index fell by 70.65 points or 0.75 per cent to 9,369.80.