BSE Sensex fails to maintain initial gains, turns negative
Zee Media Bureau
New Delhi: The S&P BSE benchmark Sensex failed to maintain initial gains and was quoted lower in afternoon trade Monday on selling pressure mainly in consumer durables and IT counters.
The 30-share index opened higher at 20,915.76 and moved up to 20,970.92 on buying in capital goods, auto and realty shares on the back persistent capital inflows from foreign funds coupled with higher global cues.
However, it later dropped to 20,787.56 and was quoted at 20,810, showing a loss of 72.74 points, from its last weekend's level.
Similarly, the 50-share NSE benchmark Nifty moved lower by 7.70 points, to 6,182.
Foreign institutional investors (FIIs) bought shares worth Rs 1752.98 crore on last Friday, according to provisional data from the stock exchanges.
Asian markets rose as traders continued buying spree that began last week on bets that US Federal Reserve will continue its monetary stimulus for the world's largest economy.
Key benchmark indices in Singapore, Hong Kong, China, Indonesia and Japan rose between 0.1 percent and 1.13 percent, while indices in South Korea and Taiwan fell between 0.12 percent and 0.21 percent.