Sensex cuts early gains, still up 39 points

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The benchmark index of the Bombay Stock Exchange (BSE) Sensex lost its initial momentum, but still up 39 points after sustained buying, mainly in the metal, computer science and technology. The amplitude, a sign of the overall health of the market was positive.

The Sensex resumed higher at 26,694.75 and remained in a range of 26,794.96 and 26,623.33 before quoting at 24:26 26,692.74, a gain of 39.14 points, or 0.15 percent from its last close.

The top gainers were Coal India 4.05 per cent, Tata Motors 2.87 per cent, Infosys 1.79 percent and 1.72 percent ITC.

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However, BHEL fell 3.67 percent, followed by HDFC 3.36 percent, 2.32 percent Adani Ports and 1.50 percent NTPC.

Meanwhile, foreign portfolio investors (FPI) bought shares for a net worth of Rs 479.89 crore last Friday, according to data from the stock exchanges.

Overseas, Japanese stocks led gains in Asian shares as the yen weakened against the dollar.

US stocks rose during the previous session after recent data showed that the slowing economy in the first quarter is not as bad as initially thought.

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