Sensex moves between positive and negative

Mumbai, Jan 3: The Bombay Stock Exchange sensitive index was swung between positive and negaitive after opening 55 points low in the early trade.

The benchmark Sensex resumed the day with a negative gap of 55 points at 20,403.91 over its previous close of 20,468.91 on profit booking after yesterday's strong gains in banking and reality stocks. It declined further to touch a low of 20,344.01 at the onset of the trading session. At the day's low, the Sensex lost 165.18 points. Sensex hit a high of 20,518.53 so far during the day. Later, it fluctuated up and down on bouts of alternate buying and selling in the mid-morning trading session.

Asian markets were trading on notes, while US markets closed in red yesterday. Sensex had hit a record high of 20,529.48 in late trade yesterday, January 2.

The broader based S&P CNX Nifty index at National Stock Exchange struck lifetime high above 6,200. Reliance Energy struck all-time high. Among the Sensex pack, 22 declined while the rest gained. The market breadth was strong.

The market breadth was strong on BSE with 1749 shares advancing as compared to 745 that declined, while 32 remained unchanged.

Frontliner stocks, Reliance Energy (REL) surged 6.11 per cent to Rs 2510. It was the top gainer from Sensex pack. The stock hit all-time high of Rs 2528 in early trade today. As per reports, Reliance Power in which REL holds 50 per cent stake, plans to raise as much as USD 3 billion in the nation's biggest initial public offering.

National Thermal Power Corporation was up 1.50 per cent, Oil&Natural Gas Corporation was up 1.78 per cent to Rs 1292 and Hindalco Industries with a marginal gain, were the other gainers from Sensex pack.

Reliance Industries rose 0.94 per cent to Rs 2880.80. The stock recovered from early low of Rs 2831.10. 75,022 shares were traded on the BSE counter.

Whereas, Bharti Aitel was the top loser from Sensex pack. It lost 1.27 per cent to Rs 754.50. Followed by ITC was down 1.09 per cent to Rs 218.75 and Ambuja Cements down 1.11 per cent to Rs 146.80, were the other losers from Sensex pack.

UNI