The key benchmark indices pared gains after hitting fresh intraday highs in afternoon trade as European stocks turned negative. US index futures edged lower in volatile trade. The market breadth was strong.
Oil & gas stocks extended Friday's (25 June 2010) sharp gains after the government freed petrol pricing and raised prices of other fuels. Healthcare and telecom stocks rose. But, FMCG stocks fell. Except the BSE FMCG index, all the other sectoral indices on BSE were in green.
The BSE 30-share Sensex was up 73.56 points or 0.41%, off close to 70 points from the day's high. Index heavyweight Reliance Industries (RIL) rose after company announced during market hours today that it made seventh oil discovery in a block in Cambay basin, near Ahmedabad in Gujarat.
The market opened on a firm note, as a partial decontrol of fuel prices on Friday, 25 June 2010, and expectations of a good monsoon this year, boosted sentiments. Stocks extended gains in morning trade. The market pared gains in mid-morning trade. The market regained strength in early afternoon trade. The market pared gains soon after hitting fresh intraday high in afternoon trade.
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