Wednesday, November 2 2005 12:06 Hrs (IST) - World Time -

Mumbai: The Bombay Stock Exchange Benchmark 30-share Index (Sensex) today (Nov 02, 2005) met with resistance after a promising start and was quoted moderately down over last close as investors preferred booking profits ahead of a long weekend. The market will remain closed on November 3 and 4 on account of Bhaubeez and Ramzan-Id holidays.

The Sensex opened better at 7,953.28 against yesterday's close of 7,944.10 and later turned weak and dropped to a low of 7,908.98 due to selling pressure from investors before being quoted at 7,922.96 down by 21.26 points over previous close.

Commenting on the weak trend after posting smart gains in overnight 'moorat' (auspicious time) session, brokers said the Sensex is still not bottomed out and further correction can not be ruled out.

The market is unlikely to sustain any price rally in the absence of FIIs inflows, they added.

Foreign Institutional Investors (FIIs) have made heavy withdrawals of over Rs 3,655 crore during October while local mutual funds made net purchases of Rs 2,678 crore in the same period.