Sensex fails to maintain initial gains

April 28, 2011 09:44 am | Updated September 27, 2016 08:21 pm IST - Mumbai

A view of the BSE building in Mumbai. File Photo: Paul Noronha

A view of the BSE building in Mumbai. File Photo: Paul Noronha

In a volatile market, the BSE benchmark Sensex failed to maintain initial gains and eased by 12 points in early trade in view of the last day of current month contract expiry, coupled with sustained selling by foreign funds.

Sustained selling by foreign funds over the past three trading sessions weighed on the sentiment. As per provisional data, foreign institutional investors (FIIs) sold shares worth Rs 711.86 crore yesterday. FIIs sold shares worth a net Rs 1643.49 crore in three trading sessions from April 25 to 27.

A sharp surge in global crude oil prices over the past few months has raised macroeconomic worries.

The BSE benchmark Sensex resumed higher at 19,532.85 and moved up further to 19,542.05, but declined immediately to 19,391.28 before quoting at 19,436.63 at 1015 hours, showing a net loss of 12.06 points, or 0.06 per cent, from its last close.

The NSE 50-share Nifty also moved down by 6.50 points, or 0.11 per cent, to 5,827.40 at 1015 hours.

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