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Sensex down after touching all-time high
By agencies
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Friday, 09 September 2005, 19:30 IST
MUMBAI: After briefly touching a new all-time high of 8072.89 points, the markets went south on Friday.
The markets started inching back even though the overall sentiment is flat. Media stocks were trading down with some stocks still holding on the positive side.
Among others, while pharma stocks are trading mixed on Friday, steel scrips have moved up.
After Thursdays fireworks, the BSE Sensex had opened 8.33 points up at 8,060.89 but within minutes moved 10.75 points down.
The NSE Nifty opened 5.65 points down at 2,448.80.
Markets were expected to remain cautious after the Sensex jumped 106 points to a lifetime closing high of 8,052.56 on Thursday.
Steady FII inflow, sustained buying from local mutual funds, and cooling off of global crude oil prices from the record high of above $ 70 a barrel have triggered a rebound on the bourses in the past few days.
However, there was a slowdown if FII inflows on Thursday. FIIs bought shares worth a net Rs 700 million on Tuesday as compared to an inflow of Rs 24.79 billion on Monday. Local mutual funds turned net sellers on Thursday. Local funds sold shares worth a net Rs 600.49 million on Tuesday.