Shares turn negative after rising 1%

Shares turn negative after rising 1%
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First Published: Tue, Jun 02 2009. 11 47 AM IST
Updated: Tue, Jun 02 2009. 11 47 AM IST
Mumbai: Indian shares briefly turned negative after rising as much as 1% on Tuesday morning, as investors took profits on an 84% rally since early March.
By 10:57 am, the 30-share BSE index was 81.99 points down at 14,758 points.
The 50-share NSE index was down 35 points at 4,494.
The Bombay Stock Exchange benchmark Sensex climbed 154 points in early trade on Tuesday marching towards regaining the psychological 15,000-point level, as buying activity picked up momentum driven by a strong rally in the global markets.
The 30-share index, which had gained nearly 1,250 points in the past four sessions, moved up by 153.68 points to 14,994.31 in the first five minutes of trade.
Similarly, the wide-based National Stock Exchange index Nifty rose 56.50 points to 4,586.40 in early trade on Tuesday.
Stockbrokers said auto stocks are front-runners, after auto majors came out with encouraging sales figures for May.
The US Dow Jones Industrial Average closed 2.60% higher on Monday and Japan’s Nikkei gained 0.80% in early trade on Tuesday.
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First Published: Tue, Jun 02 2009. 11 47 AM IST
More Topics: Sensex | Nifty | Stocks | Shares | Markets |