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BSE Sensex opened strong

Shalini Kakkad 9 October 2007

The Bombay Stock Exchange Benchmark Sensex opened strongly on Tuesday but soon lost ground due to continued selling pressure. The Sensex was trading at 17503, up by 12 points.

At 10.10 am, NSE Nifty was trading with a loss of 15 points at 5070. Most of index stocks were marginally down. The stock markets look weak due to current political issues. Many technical analysts believe that markets may see a correction.

Technical expert Prakash Gaba has suggested that markets may correct this week before starting another upward move.

ACC has gained in today’s trading session. HCL Tech was among major gainers. The stock was trading at 316 with a gain of 2.7 percent. HDFC gained 1% in early trades.

Ranbaxy Labs was trading at 404. The stock went down to 403.25 in early trades.

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