The Indian bourses took off, as soon as the opening bell was sounded, to a 170-point gain, on cues provided by the rising global indices. The start to the week could not have been better, except investors are worrying that last week too, the markets had gained in similar manner on the first day of the week only to see it dive over the next two and end the week with just a 35-point gain. Is the same thing repeating? Wait and watch.

However, today, there was no stopping the Indian markets in the early period as they galloped towards great gains from the morning session into the afternoon session, even though most of the buying that was happening was in index heavyweights. From 170 points gain in the morning, the Sensex did come down a little bit to 14,501, a gain of 163 points and the Nifty was up by 40 points at 4,287.

But, as the closing time neared, so did the selling frequency acquire new urgency. Looking to book profits, the final hour saw investors bring the Sensex down by a century. It finally closed up 59 points at 14,398, while the Nifty barely managed to move 8 points, after all the action at the end of the day to close at 4,257. The trend may have been a contagious one for tomorrow as the Asian markets have closed flat and the European markets are not moving beyond that either.

Source: bseindia.com