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MUMBAI, Feb 11 (AFP): Choppy trading was expected in Indian shares next week after the benchmark Sensex index closed Friday at a record high above the psychologically key 10,000 level, dealers said.
They said select buying appeared likely with domestic fund purchases seen this week on higher trading volumes.
The Mumbai stock exchange's 30-share benchmark Sensex closed Friday at 10,110.97, up 368.39 points or 3.78 percent from the previous week's close of 9,742.58.
"Some amount of choppiness and volatility will be seen next week as funds and investors lock in gains. We however expect select buying led by domestic mutual funds," said an analyst at ULJK Securities.
Buying support was seen from overseas and domestic funds.
Foreign funds invested 10.7 billion dollars in 2005 and have already poured in 1.56 billion dollars since the start of January.
According to dealers, domestic funds are believed to have collected over two billion dollars in new subscriptions during the past two months.
"The markets were nervous in previous trading sessions when Reliance demerger issues resurfaced in early February. With the wrangles resolved, we expect the listing of the new demerged firms to take place smoothly," said a dealer with a fund house, speaking on condition of anonymity.
Reliance Industries, India's largest private business, rose 2.71 percent to close the week at 719.9 rupees.
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