Sensex gains 333 points in opening trade

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Mumbai, Apr 7: Benchmark Sensex of Bombay Stock Exchange today gained over 333 points at 15,676.66 on fresh inflows in the opening trade. Sensex opened the session on firm note at 15,390.15 from previous close of 15,343.12 tracking strong Asian markets but pared gains after taking a dip in red at 15,321.56. Soon after, it spurted again from lower level, however, the trade volumes remained low.

Healthcare, IT and FMCG stocks were in demand. Wipro and Tata Consultancy Services were major gainers from the Sensex pack. The market breadth was negative, brokers said. The broader-based S &P CNX Nifty index of National Stock Exchange increased by 36.85 points at 4,683.85. The BSE Midcap and Smallcap indices improved in the early trade.

Frontliners, Reliance Industries rose by 0.52 per cent to Rs 2,334. As per reports, Reliance Industries is planning to enter into the rig manufacturing business besides investing USD 2.5 billion to enter into petrocoke gasification.

Reliance Communications declined by 1.03 per cent to Rs 495. It has reportedly formed a joint venture with a local firm to launch GSM mobile services in Sri Lanka by this year.

ONGC rose by 1.05 per cent to Rs 1,016.30. ONGC Videsh (OVL), the overseas arm of Oil and Natural Gas Corporations (ONGC), will sign an agreement on April 8, 2008 to take 40 per cent stake in the San Cristobal oil field in Venezuela. OVL will make a total investment of USD 355.738 million comprising signature bonus of USD 173.1 million for the stake.

Tata Consultancy Services rose by 3 per cent to Rs 896.50. The company has signed a new multi-year contract with Chrysler LLC to provide a comprehensive portfolio of IT services.

As per provisional data, foreign funds sold shares worth a net Rs 848.57 crore on Friday. Domestic funds bought shares worth a net Rs 579.84 crore.

Foreign funds were net sellers of index futures to the tune of Rs 517.24 crore and they net sold index options worth Rs 117.37 crore on Friday. FIIs were net sellers of stock futures to the tune of Rs 139.72 crore. They were net sellers of stock options to the tune of Rs 3.20 crore.

UNI

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