Mumbai: Share prices displayed a two-way movement at early stages on the Bombay Stock Exchange (BSE) on May 7 on alternate bouts of buying and selling.

Some of the public sector undertaking (PSU) shares, which were on the disinvestment list for the current fiscal, continued to be in limelight on good investment buying.

IT stocks also attracted purchases on the back of positive advices from Wall Street. The Dow Jones industrial average and the NASDAQ composite index rose by 56.79 points and 19.67 points respectively on May 6 night.

The BSE-30 share sensitive index resumed slightly lower at 2,988.18 as against May 6 close of 2,993.00. It rallied further past 3,000-mark to a high of 3,003.00.

However, higher level attracted profit selling and it dropped to a low of 2,985.77 before being quoted at 2,988.79 at 10.30 am (IST).

After recent bullish trend, banking shares seemed to be consolidating their gains at the current price levels.

Foreign institutional investors (FIIs), who were net buyers worth Rs 253 crore in the past straight three sessions, reportedly booked profit on May 5 worth Rs 11 crore and were said to be sellers in select counters at higher levels.

PTI