Sensex resumes firm at 18,228 pts; R-Power soars

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Mumbai, Feb 18: The sensitive index of BSE resumed positive at 18,228.21 points in the morning session with a massive gain of 112.96 points from its last close of 18,115.25 on fresh speculative demand from FIIs on reports of Anil Dhirubhai Ambani group Reliance Power's announcement of bonus issue, brokers said.

The select scrips opened on a firm note boosted by Reliance Power's surprise announcement of bonus issue on, February 17. However, it was not able to sustain at higher level and slipped in the red. Reliance Power soared. Other power generation stocks rose. However IT pivotals slipped. The market breadth was strong. Asian markets were trading mixed today.

Later, the 30-share BSE Sensex was down 32.04 points or 0.18 per cent at 18,083.21. It opened 112.96 points higher at 18,228.21 and advanced to hit a high of 18,256.82 in early trade. At the day's high, Sensex rose 141.57 points. Sensex lost 79.64 points at the day's low of 18,035.61, hit in early trade.

The broader based S&P CNX Nifty index of NSE was down 14.08 points or 0.28 per cent at 5,286.50.

Reliance Power surged up by 9.89 per cent to Rs 422.75 on high early volumes of 36.21 lakh shares. Company sources declared yesterday that its board will meet shortly to decide bonus ratio. The bonus shares will be issued to non-promoter shareholders to compensate their losses. The stock has been consistently trading at a discount to IPO price of Rs 450, since its listing on February 11.

India's largest private sector steel maker in terms of total production Tata Steel hardened by 3.12 per cent to Rs 844 on 2.44 lakh shares. It was the top gainer from Sensex pack.

National Thermal Power Corporation was up by 2.25 per cent to Rs 208.65 followed by Reliance Energy by 2.08 per cent to Rs 1745 and Ranbaxy Laboratories by 1.73 per cent to Rs 403, were the other gainers from Sensex pack.

India's largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) was up by 0.13 per cent to Rs 2593.95 on 57,268 shares.

India's largest oil exploration company in terms of market capitalisation Oil&Natural Gas Corporation slipped by 2.39 per cent to Rs 1008.65. It was the top loser from Sensex pack.

IT pivotals slipped on fresh selling. Infosys Technologies was down 0.82 per cent to Rs 1551.90, TCS was down 0.63 per cent to Rs 863, Wipro fell 1.25 per cent to Rs 415 and Satyam Computers slid down 0.45 per cent to Rs 436.25 edged lower.

Asian markets were trading mixed today as Japan's Nikkei was up 0.10 per cent at 13,635.72, Taiwan's Taiwan Weighted index rose 0.36 per cent at 7,904.69 and China's Shanghai Composite index edged up 1.42 per cent to 4,561.35.

However, South Korea's Seoul Composite index was down 0.35 per cent at 1,688.86, Hong Kong's Hang Seng was down 0.96 per cent at 23,915.47, Singapore's Straits Times index was down by 0.28 per cent at 3,080.12, brokers added.


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