Mumbai: In highly volatile movements, the Bombay Stock Exchange benchmark Sensex closed 43.79 points higher at 10,853.14 on on Monday.
During the day's trading, the index had touched a high of 10,992.38 points.
After rising by over 183 points in early trade, the benchmark Sensex fell back to trade at mid-session following revival of selling by foreign funds and retail investors.
Traders said selling at higher levels by foreign funds as well as retail investors in heavy-weighted stocks had wiped-off initial gains.
The draggers were Reliance Industries, Grasim, Bajaj Auto, Dr Reddy, Ranbaxy Lab., HDFC Bank, ITC Ltd, Bharti Airtel and Wipro.
However, experts feel, the fundamentals of the Indian corporate sector are still strong and enhanced corporate earnings would restrict downslide on the domestic bourses.
Dealers attributed the initial upsurge in share values to positive global clues. On Wall Street, the Dow Jones Industrial Average and the Nasdaq Composite Index had finished higher last weekend.
Most of the Asian markets were also trading in green during early trading hours.
Domestic Mutual Funds had continued buying while Foreign Institutional Investors (FIIs) were said to have slowed down their sales.
Stockbrokers said, the upward trend was an outcome of sustained buying particularly by domestic funds in heavy-weighted stocks besides firming global markets influenced the trading sentiments.
Positive global advices mainly weighed on the share values.
In New York, the Dow Jones Industrial Average and the Nasdaq Composite Index rose by 67.50 points and 12.13 points last weekend respectively.
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