Indian bears rule the roost

India's Sensex goes up briefly in morning trading but selling pressure sees it end weak around 10,500; further fall expected this week.

IndiaÆs stock market witnessed another day of ups and downs yesterday May 24. The Sensex opened strong rising 1% to 10,938 following gains in Japan, South Korea and Taiwan. In the morningÆs trading ICICI Bank gained 6% and Bharti Tele-ventures gained 4%. Cement, metal, banking and pharmaceuticals all saw bullish sentiment. However, celebrations were premature as profit-taking followed. Although the movements were nothing like as dramatic as those which had caused regulators to suspend trading on Monday the Sensex...

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