Sensex opens firm at 10,160.47 pts

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Mumbai, Oct 20 (UNI) The Bombay Stock Exchange (BSE) 30 share index today resumed positive at 10,160.47 points with a gain of 185.12 points, from it last finish of 9,975.35, on fresh speculative demand from Mutual funds and others coupled with firm advice from Asian stocks.

The S &P CNX Nifty index of National Stock Exchange (NSE) also resumed firm at 3,108.20 with a gain of 33.85 points, from it last finish of 3,074.35 points. Later it was up 21.65 points at 3,096.00.

It registered the intra-day high and a low at 3166.00 and 3080.10 points respectively.

Later, the BSE 30-share Sensex was up 121.93 points or 1.22 per cent at 10,097.28. The index surged 331.62 points at the intra-day high of 10,306.97 and low of 10,039.28. The BSE Mid-Cap index was down 0.3 per cent at 3,534.14 and the BSE Small-Cap index was down 0.31 per cent at 4,154.79.

Stocks leading the rally such as Wipro, rose more than six per cent. Realty stocks also jumped. But the market breadth was negative indicating a cautious undertone.

Asian stock markets rallied with valuations growing more attractive and after governments around the world rushed out further steps to to stabilize financial markets and resuscitate the banking industry, which has been badly damaged by a crisis of confidence.

Key benchmark indices in South Korea, Taiwan, Hong Kong, Japan and Singapore were up by between 0.98 per cent to 4.34 per cent, a leading broker said.

Reliance Industries rose 1.42 per cent at Rs 1,324.20. Reliance Communications was up 4.3 per cent at Rs 244, ICICI Bank rose 4.45 per cent at Rs 409.15 and HDFC Bank hiked 3.79 per cent at Rs 1,062.90 were among the top gainers from the Sensex pack. Grasim Industries was down 5.33 per cent at Rs 1,225, State Bank of India came down 0.77 per cent at Rs 1,403 and Mahindra &Mahindra dropped 1.37 per cent at Rs 434.95 were the top losers from the Sensex pack.

Realty majors, Indiabulls Real Estate, Unitech rose between 0.5 per cent and 1.45 per cent. India's largest real estate player by market capitalization, DLF fell by 1.54 per cent.

IT stocks gained even as rupee rose against the dollar. BSE IT index rose 3.29 per cent and was the major gainer from the sectoral indices on BSE. India's third largest IT services provider by sales, Satyam Computer Services rose by 4.96 per cent after the company raised its earnings guidance in rupee terms at the time of announcing Q2 September 2008 results on last Friday. Tata Consultancy Services , Wipro and Infosys jumped between 2.86 pc to 6.5 pc.


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