Sensex down 100 pts in mid-session
The benchmark Sensex failed to hold on to early gains on the Bombay Stock Exchange at mid-session on Friday on emergence of profit selling by funds and lost over 100 points.
The Sensex, which commenced with a gain of 46.05 points, tumbled down by 107.43 points at 10,634.16 as funds sold some blue-chip stocks at existing higher levels.
Similarly, the National Stock Exchange index nifty fell by 39 points at 3117.15.
In choppy trade, the Sensex had opened strong and rose by over 46 points in early trade on sustained buying by foreign as well as domestic funds in index-related blue-chip stocks.
The 30-share index, which had closed 124.32 points higher on Thursday, gained another 46.06 points at 10,787.65 in the first five minutes of trading.
Similarly, the National Stock Exchange index Nifty was up by 12.35 points at 3168.50 after dipping to 3131.30.
Stock brokers said that firm Asian markets and steady inflow of better-than-expected quarterly results by most of the companies buoyed the trading sentiments.
In the pharmaceutical segment, Dr Reddy Laboratories, influenced by excellent working results, evoked massive buying support from funds and retail investors and posted Rs 82.60 higher at Rs 1449.70.
Other gainers were Ranbaxy, Cipla, BHEL, Guajrat Ambuja Cement, ITC and Hindustan Lever.