Mumbai: Late bouts of heavy profit-selling by domestic funds wiped out sharp early gains at the Bombay Stock Exchange (BSE) on October 7, but the benchmark managed to land in positive terrain with a marginal gain of 1.55 to close at 4632.94 and extend the winning streak to the seventh day.

The SENSEX has gained by a whopping 335.79 points in seven straight sessions, despite today's nominal rise even as sentiments remain buoyant for a fresh rally, as economic fundamentals remain strong, dealers said.

Index-based counters such as Glaxo, GACL, HPCL, ICICI Bank, L&T, Nestle, Ranbaxy, Telco and Tisco ended with smart gains, which helped the SENSEX settle on the plus side.

Sharp falls in top heavyweights like RIL, Infosys Tech, HLL, SBI and Hindalco were the main reasons for the index to lose most of its weightage, otherwise the SENSEX would finish with yet another steep rise, a dealer commented.

The BSE-30 index started strong at 4644.86 and shot up further to a high of 4688.33. However, it started falling sharply following fresh offering and after touching a low of 4601.16, ended at 4632.94, showing a mere gain of 1.55 points over the previous close.

The broad-based BSE-100 index, however, dropped by 10.39 points to 2405.90 from previous close of 2416.29.

Steel counters like Tisco, SAIL and Jindal Steel were once again in the limelight and attracted heavy buying from foreign as well as local funds.

Foreign Institutional Investors (FIIs) were net buyers worth Rs 1247 crore last week while local funds also picked up shares worth Rs 193 crore.

PTI