Sensex gains 63pts, FIIs remain sellers

The Sensex started the week on a bullish note at 6,391.80 as against the last weekend close of 6,388.48 in the previous week, and rose smartly to an intra-week high of 6,495.91.

Heavy profit-selling dragged the index to a low of 6,380.76 by mid-week before recovering on fresh buying and closing at 6,451.54 - netting a gain of 63.06 points.

The Sensex had shot up by a whopping 234 points in the last week ended May 6.

Activity was lacklustre with no major action in the frontline stocks.
Lack of FII support and weak overseas markets affected the sentiment, but good buying by mutual funds helped the Sensex to close in positive territory, brokers said.

FIIs were net sellers at Rs 150.36 crore while MFs bought heavily clocking an inflow of Rs 696.87 crore till May 12,  they added.

The volume of business on the BSE and the NSE remained high at Rs 12,314.68 crore and Rs 23,299.58 crore, respectively, as against Rs 8,699.86 crore and Rs 17,902.70 crore in the previous week.