Mumbai: The sensex fluctuated erratically and recovered its initial losses during morning trading on the Stock Exchange today (Jun 4, 2004) on alternate bouts of buying and selling by operators and public investors.

The BSE Benchmark 3-share Index opened weak at 4803.31 as against yesterday's (Jun 3, 2004) close of 4817.99 and later dropped to a low of 4759.35 in extremely irregular movements before being quoted at 4818.19 at 10.30 hrs (IST).

Despite continuous positive FII inflows in the past four sessions and confidence shown by financial players and industry in the intent of the United Progressive Alliance (UPA) on carrying forward the economic reforms and maintaining growth momentum after Finance Minister's visit to the city yesterday, investors seemed to be unwilling to make fresh commitments in the market.

Foreign Institutional Investors (FIIs) reported net investments of Rs 53 crore on June 2, taking the total inflow in four sessions since May 28 to Rs 528 crore.

Key counters like BHEL, Grasim, Hindalco, REL, Tata Power Tisco, Tata Motor and Wipro were quoted up on some buying support.

However, Bajaj Auto, Bharti Tele, Hero Honda, ICICI Bank and ITC showed moderate losses.