Mumbai: The Sensex opened on a promising note and later fluctuated in a narrow during the morning trading on the Bombay Stock Exchange (BSE) on October 28 on flow of buying support from investors.

However, brokers were sceptical about market with a strong feeling that retail investors which hold large positions in futures and options would continue squaring up during the latter part of the.

The BSE 30-share Sensitive Index opened moderately higher at 4710.22 against October 27 close of 4698.28 and later moved in a range between 4729. 4677.51 before being quoted at 4690.72 at 10.30 AM.

Market source investors seemed to be extremely cautious in view of sudden slowdown by Foreign Institutional Investors (FIIs) as well as heavy sell-off by local funds.

The market expected to remain under pressure in the week because of approaching of October contract of derivatives on October 30.

Key counters like RIL, Infosys ITC and Cipla were quoted up on some buying support while Grasim Ind, HPCL, HLL, ICICI Bank, L&T, Tata Motor, Tisco, SBI and BHEL showfalls.

Among the top losers, Kochi Refinery were quoted 511 pc, Bombay Dyeing by 57 pc, CCI by 4.32 pc, Adlabs by 3.9 pc, Chennai Petro by 3.92 pc, BoB by 3.86 pc, SCI by 3.75 pc.

However, Bharti Tele, and Glaxo were among the top gainers.

PTI