Mumbai: The Sensex opened past 5300-level and later moved in a small range during morning trading in continued scrip-specific activity on the Bombay Stock Exchange (BSE) today (Dec 11, 2003) on sustained purchases by foreign funds.

The BSE Benchmark 30-share Index opened above 5300-mark at 5306.62 as against yesterday's close of 5285.54 and later fluctuated in a range between 5311.21 and 5284.93 before being quoted at 5305.03 at 10:30 hours (IST).

Foreign institutional investors (FIIs) have been consistent buyers after making a small net sales of Rs 47 crore on Monday (Dec 8), brokers said, adding once again, the market is driven by institutional purchases.

Domestic mutual funds, however, have turned sellers and booked profits in the first couple of sessions of the week.

The market is expected to move upwards in view of bullish economic prospects coupled with hopes of speedy reforms.

PTI