Sensex ends down 33.04 points

MUMBAI: The Sensex on Tuesday came under pressure ending 33 points down at 10,662.22 points with a very low trading volume after an initial rally on the back of strong trend in New York and Asian markets.

The low volume was attributed to thin attendance in the markets, caused by incessant rains that disrupted life in the city for the fourth consecutive day.

Initially, 30-share sensitive index rallied sharply to the intra-day high of 10,800.11 points. But the market later lacked follow-up support and lost early gains, ending the day at 10,662.22 points against the previous close of 10,695.26 points, a net loss of 33.04 points or 0.31 per cent.

On the National Stock Exchange (NSE), the S&P CNX Nifty fell by 12.30 points or 0.39 per cent to 3,138.65 from previous close of 3,150.95 points.

The markets failed to sustain initial higher levels in the absence of any worthwhile buying support as well as a negative trend in European markets.

In overseas markets, the Dow Jones Industrial Average on Monday  ended 77.80 points up and the Nasdaq Composite Index advanced by 18.34 points respectively. Asian markets also ruled strong for the second straight day.

 However, the downtrend in London, German and French markets in early trade had an adverse impact on the market sentiment.

In dull trading, bank shares hogged the limelight scoring handsome gains on some fund-based buying. As a result, the bankex shot up by 51.47 points or 1.18 per cent to 4,410.75 from last close of 4,359.28.