Sensex Closes Lower After Early Gains On Profit-Booking

Stocks continued to witness lacklustre trading yesterday even as the Bombay Stock Exchange Sensex gained 6.19 points to close at 3343.92 points, the turnover continued to be low.

Brokers said the market opened strong in the morning session, and generally the sentiments were better throughout the day.

Yesterday being the first day of the trading cycle on the National Stock Exchange (NSE), traders opted to have a plus position. Apart from this, there was very little buying interest, brokers added.

The State Bank of India scrip continued to witness hectic trading activity. Brokers said the pricing for the GDR issue would be crucial for the Indian stockmarkets.

 

The entire stock market is eagerly awaiting the announcement scheduled for the first week of October, Vipul Dalal of Alpic Finance said.

The Sensex which gained 6.19 points over the previous close of 3337.73 opened at 3350.70, touched a high of 3373.51 and the days low of 3340.90.

Much of the days gains were lost due to profit-booking towards the close of the session, brokers added.

This trend, brokers say, is likely to continue till the small investor returns to the stock market.

The trading activity continued the sluggish trend with the near absence of FIIs from the market.

On BSE, 2.15 crore shares worth Rs 302.18 crore were traded.

The top three scrips on the BSE