Monday, October 10 2005 11:24 Hrs (IST) - World Time -

Mumbai: The Bombay Stock Exchange Benchmark 30-share Index (Sensex) today (oct 10, 2005) rallied smartly during morning trading even as investors adopted a cautious approach ahead of announcements of second quarter results by corporates.

The Sensex opened on a promising note at 8516.44 against Friday's close of 8491.56 and later surged up to a high of 8564.85 before being quoted at 8514.65 at 10.30 am, up by 23.09 points over last close.

Key stocks attracted fairly good buying interest in a pull-back rally after a three-day slide, brokers said adding, "prices, however, met with resistance at higher levels due to profit booking by operators and retailers".

With fears of withdrawal by foreign institutional investors (FIIs), which reported net sales during last week and slow down by mutual funds, operators and retailers seemed to be cautious ahead of announcements of corporate results from tomorrow onwards, brokers noted.

The market is likely to react negatively if the second quarter results fell short of investors' expectations, a leading broker said.