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Sensex up 47 points to 16725

The BSE bechmark index moves in a range of 16,742.20 and 16,593.15 before being quoted at 16.725.18 at 10.30 am.

business Updated: Mar 04, 2008 12:29 IST

After black Monday, the market has shown signs of consolidation at lower levels before making any move either side on consistent uncertainty over global cues.

The BSE bechmark Sensex moved in a range of 16,742.20 and 16,593.15 before being quoted at 16725.18 at 10.30 am, a moderate rise of 47.30 points over previous close of 16,677.88.

On Monday, the 30-share index fell by a massive 901 points, logging second largest point-wise fall in the history of BSE.

Similarly, Nifty of the National Stock Exchange also edged up by 7.00 points to 4,960.00 from previous close of 4,953.00.

According to technical analysts, both the indices are still below crucial 200 days moving average and displayed signs of weakness.

Besides Taiwan, other Asian indices were trading in negative terrain on fears of US recession.

Second-line stocks showed signs of weakness while some of the front-line shares attracted stray buying support.