Mumbai: The sensex witnessed extremely narrow movements after opening marginally lower in line with lacklustre activity during morning trading on the Stock Exchange in Mumbai today (Sep 16, 2004) on alternate bouts of buying and selling.

The BSE Benchmark 30-share Index opened weak at 5415.46 as against yesterday's (Sep 15, 200) close of 5420.09 and later fluctuated in range of 5426.84 and 5401.00 before being quoted at 5426.84 at 10.30 hrs (IST), up by 6.75 points.

Despite high inflation rate and profit booking by local funds during the last session, the market remained bullish on the back of positive FII inflow in the current month, brokers said adding that the market, which seemed to have discounted all the negative factors, expected to gradually move upwards.

Blue chip counters including Zee Telefilms, Tata Steel, Ranbaxy, ONGC, Maruti Udyog, ITC, HDFC Bank and Bharti Tele were quoted moderately higher on fresh buying.

However, RIL, Infosys Tech, Satyam Computers, Hero Honda, HDFC and BHEL showed moderate losses.