After opening modestly higher, the Indian stock
market retreated and slipped into the red this morning, with investors choosing
to book some profits in a few front line stocks.
The mood, amid uncertainty about the near term
outlook for the market after recent strong gains, is a bit cautious at present.
A slightly mixed trend in Asian markets is also contributing to the sluggish
movements of stocks back home.
The BSE benchmark Sensex, which advanced
to 20,552.05 in opening trades, declined to 18,876.44 and is currently down
102.32 points or 0.5% at 19,895.13. The Nifty index of the National Stock Exchange is down 25.25
points or 0.4% at 5888.50, off an early high of 5932.
The partially convertible Indian rupee breached the 63
a dollar mark, progressed to 62.92 in early trades this morning. The rupee is
currently trading at 63.20 against the greenback.
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