Gains in the market are fund-led. Trading in the region remains relatively strong with funds pursuing select stocks, among them metals. Overnight gains on Wall Street also helped sentiment.
Some investors took profits in select blue chips, driving the benchmark index into negative territory. Trading was confined to a narrow range ... ahead of the long Christmas holiday.
Follow-through interest in select blue chips and China-related stocks drove the benchmark index up. Funds kept chasing these stocks after the market broke through the 16,000 points level.
There was profit-taking in select blue chips and China-related stocks after recent sharp rises. Investors turned cautious as US and Tokyo markets were weak.