Markets

Sensex down 92 points after opening higher

PTI Mumbai | Updated on January 05, 2011 Published on January 04, 2011

Stock markets turn cautious today after rallying sharply during the past five trading sessions.   -  The Hindu Business Line

After a sharp rally of 535 points during the last four trading sessions, the Sensex faced resistance at near 21K level.

The BSE benchmark Sensex opened higher on Tuesday but gave up gains immediately on profit taking in banking, realty, auto and consumer goods stocks.

The Sensex rose by nearly 90 points at open today, extending its four—session gaining streak, in tandem with firming trend on other Asian bourses.

At 12.05 pm, the 30—share index of the BSE, was at 20,468.23 points or 0.45 per cent , down by 92.82 points with stocks of consumer durables, oil and gas, and metal sectors leading the rally.

In a similar fashion, the broadbased National Stock Exchange Nifty index moved down by 24.90 points or 0.19 per cent to 6,132.70 points.

Brokers said firming trend in Asia following overnight gains on the US market on encouraging manufacturing and constructions spending data buoyed the trading sentiments here.

Meanwhile, the Hong Kong’s Hang Seng index was up 0.23 per cent while the Japan’s Nikkei gained 1.08 per cent in the morning trade today. The US Dow Jones Industrial Average ended 0.81 per cent up in the previous session.

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Published on January 04, 2011
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