The Bombay Stock Exchange bellwether Sensex advanced by 68 points today as volatility became the order of the day ahead of the expiry of the November contract.
Despite a smart rally during the day, the market failed to sustain higher levels as investors booked profits at higher levels amid higher global cues and fresh recovery signs.
Prime Minister’s Economic Advisory Council chairman C Rangarajan had said yesterday that economic growth was picking up, but the biggest worry was rising inflation which is expected to be around 6.5 per cent at the end of this fiscal.
Brokers said the market is bullish on the back of ample liquidity in the system following continued capital inflows into the market.
Touching a one-month intra-day high of 17,290.48, the BSE barometer settled at 17,198.95 points, managing to gain just 67.87 points or 0.40 per cent over its previous close.
Among the Asian markets, the Shanghai Composite Index made a smart rally of 2.07 per cent after the steep 3.45 per cent fall yesterday. Hong Kong’s Hang Seng gained 0.84 per cent, the Tokyo rose by 0.79 per cent, after robust economic data showed that its exports dropped the least in over a year in October, while Singapore moved up 0.46 per cent.
However, back home as the day progressed, the market breadth wore thin and majority of the mid—cap and small—cap counters closed in the red.
