Sensex sheds early gains, still up 47 points

The BSE benchmark sensex trimmed early gains but was still up by 47 points in late morning trade today on sustained buying in PSU, banking, auto, realty and capital goods sectors amid hopes of more reform measures by government in the winter session of Parliament.

Higher global advices coupled with sustained capital inflows from foreign funds into equity market also boosted the market sentiment.

The 30-share barometer resumed higher at 18,510.94 and moved up further to 18,544.08. It, however, declined immediately to 18,497.49, before quoting 18,507.06 at 1030 hrs, a gain of 46.68 points, or 0.25%, from its last close.

The NSE 50-share index Nifty also inched up by 4.45 points, or 0.08%, to 5,619.25.

Asian stocks gained in the early trade as a preliminary survey showed China's manufacturing is poised to expand this month.

Key benchmark indices in Hong Kong, Indonesia, Japan, Singapore, Taiwan and South Korea rose in the range of 0.26 to 1.09%, while China's Shanghai Composite fell 0.53%.

Foreign Institutional Investors (FIIs) continued their buying spree by investing net Rs 182.59 crores yesterday, as per the provisional data issued by stock exchanges.


Keywords:The BSE benchmark sensex, PSU, banking, auto,capital goods sectors, global advices, capital inflows,market sentiment, index Nifty ,Key benchmark, Hong Kong, Indonesia, Japan, Singapore, Taiwan ,South Korea,Foreign Institutional Investors ,FIIs,stock exchanges.