Sensex and Nifty pare early gains as investors turn cautious
Business
Sensex and Nifty kicked off Thursday with solid gains, up more than 500 points and 150 points, respectively, but those early highs didn't last.
By mid-morning, both indices had trimmed their rise as investors turned cautious.
Profit booking, persistent FII selling, and weekly Sensex derivatives expiry kept the market on edge.
Profit booking and FII selling pressure
Much of the pullback came from profit booking after Wednesday's rally, plus foreign investors sold over ₹1,100 crore worth of shares, adding pressure.
The weekly expiration of derivatives contracts also made things choppier as traders adjusted their positions, leading to more ups and downs than usual.