Markets heads northward, notches 77 points

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Mumbai, Sep 13: The Bombay Stock Exchange (BSE) Sensex today opened firmer at 15,547.66 from it's last close of 15,505.36 and went ahead to notch up around 77 points to touch 15,583.00 in the pre-lunch session on continued buying support for index pivotals.

''Auto shares were in demand. BSE Mid-Cap and BSE Small-Cap indices have struck all time high now,'' market participants said.

The National Stock Exchange (NSE) S&P CNX Nifty also opened higher at 4,498.05 from it's previous close of 4,496.85 and then surged by around 23 points to touch 4,519.40.

The market breadth is strong on the BSE, with 1,667 shares advancing as compared to 824 that declined, while 78 remained unchanged, so far. The BSE Mid-Cap index rose 0.80 per cent to 6,944.33, while the BSE Small-Cap index gained 0.93 per cent to 8,652.08. The BSE Mid-Cap index hit an all time high of 6,952.53, while the BSE Small-Cap index struck an all time high of 8,670.25 in intra-day trade today. The total turnover till now amounted to Rs 1698 crore. From the 30-member Sensex pack, 24 gained while the rest slipped, official records show.

The early gainers include SBI, Reliance Communications, Reliance Industries (RIL), Tata Motors, Maruti Udyog, Mahindra&Mahindra, and Bajaj Auto, while Hindustan Unilever, Ranbaxy Laboratories and Satyam Computers were the other losers from Sensex pack.

Asian markets were mixed. Japan's Nikkei, Hang Seng and Shanghai Composite gained, while Taiwan Weighted and Singapore's Straits Times slipped.

US shares settled slightly lower yesterday, with investors still confident that the Federal Reserve will lower rates next week but treading cautiously as oil prices crossed USD 80 a barrel for the first time and the dollar extended its decline. The Dow Jones industrial average fell 16.74 points, or 0.13 per cent, to 13,291.65, after weaving in and out of positive territory throughout the session. The Standard&Poor's 500 index rose 0.07 point, or less than 0.01 per cent, to 1,471.56, and the Nasdaq Composite index fell 5.40 points, or 0.21 per cent, to 2,592.07.

Crude oil prices dipped today but held near USD 80 a barrel and the previous day's record high, as dealers watched a tropical storm in the Gulf of Mexico after a sharp fall in US crude stocks. US crude was trading 23 cents lower at USD 79.68 a barrel, after hitting a record high of USD 80.18 yesterday. London Brent crude shed 9 cents to USD 77.59 a barrel.


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