Sensex opens 106.25 points up

Mumbai, May 27: The sensitive index of Bombay Stock Exchange (BSE) today opened 106.25 points up at 16,454.75 from its previous close of 16,348.50 on positive cues from Asian markets. The Sensex rose 157.85 points on fresh buying in select pivotals in the early trade and touched a high of 16,506.35. But later, it shed some of its gains and was trading with a gain of 50 points at 16,398.76 in the mid-morning trading session.

Indian bourses recovered following the recovery of the Asian markets. All the sectoral indices on BSE, except information technology index, were trading in green. The broader-based S&P CNX Nifty index of National Stock Exchange was up 44.8 points at 4,919.85. The BSE Midcap index rose 0.88 pc to 6,820.57 and Smallcap index rose 1.13 pc to 8,411.81.

Reliance Communications rose 2.08 pc at Rs 554.50 on reports that the proposed deal between Reliance Communications and South Africa's MTN Group may involve an open offer by the South African telecom firm to the shareholders of Reliance Communications. The deal may result in a transfer of Anil Ambani's two-third equity stake in Reliance Communications to MTN shareholders, as per reports.

Reliance Industries rose 0.80 pc at Rs 2,546, ICICI Bank was unchanged at Rs 826.90, Larsen&Toubro rose 1.65 pc to Rs 2,795.05.

Bharat Heavy Electricals was up 3.86 pc at Rs 1720.05, Jaiprakash Associates up 2.41 pc at Rs 229.80, ITC up 1.5 pc at Rs 209.50, Reliance Infrastructure up 1.87 pc at Rs 1,272, and Hindalco Industries up 1.07 pc.

However, Hindustan Unilever was down 1.54 pc at Rs 227.70, HDFC Bank down 1.07 pc at Rs 1,333, Infosys Technologies down 0.45 pc at Rs 1,878 and Grasim Industries down 0.84 pc at Rs 2,190.

UNI