Sensex Trims Initial Gains: Up 149 Points

The BSE benchmark Sensex trimmed initial gains but was still trading with a gain of 149 points on buying in realty, banking, capital goods, refinery and auto stocks ahead of the Reserve Bank's monetary policy.

There was selling, however, in IT, FMCG, Teck and Healthcare sectors. Persistent capital inflows from foreign funds boosted the market sentiment, marketmen said.

RBI is scheduled to announce its mid-quarter review of monetary policy later today amid industry demands for the lowering of interest rates to spur growth.

Shares of organised retailers surged after the government announced that the Cabinet has approved the proposal of the Department of Industrial Policy & Promotion for permitting foreign direct investment (FDI) of up to 51 percent in multi- brand retail trading (MBRT).

The BSE 30-stock index, Sensex, resumed higher at 18,619.90 and shot up further to 18,715.03.
However, it declined to a low of 18,569.24, before quoting at 18,612.88 at 1025 hrs - up 148.61 points of 0.80 percent from its last weekend's closing level. Via

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