Sensex opens higher; drops later

Mumbai, Feb 24 (UNI) The 30-share Bombay Stock Exchange(BSE) Sensitive Index (Sensex) opened higher at 10,256 points as compared to last close at 10,244.

The markets are expected to be volatile as the Rail Budget unfolds later in the day.

The key index touched a high of 10,271 before dipping to a low of 10,191 and was trading 44 points down at 10,199 at 1123 hrs.

BSE indices of Infotech, FMCG, auto and health care sectors were trading in the red. However, bank, capital goods, consumer durables and PSU counters were up.

BSE small and midcap indices were flat.

Steel scrips were up. State-owned SAIL was trading up at Rs 64 per share, while its private sector rival Tata Steel was also up by 0.83 per cent at Rs 422.

Among the banks, publis sector SBI was up by 1.31 per cent at Rs 864 while private sector HDFC was down 1.62 per cent at Rs 709.50.

Top Sensex gainers were Grasim Industries, ACC, SBI, Gujarat Ambuja Cements, Tata Power, Tata Steel, NTPC, Reliance Energy, BHEL and Larsen&Toubro.

Top losers were Dr Reddy's Lab, Hero Honda, ONGC, HDFC Bank, Bajaj Auto, ITC, Satyam Computer, HLL, Wipro, and Cipla.

The 50-share National Stock Exchange S&P CNX Nifty index opened flat at 3,061.

However, Nifty dipped 16 points to a low of 3,046 at 1118 hrs after rising to 3,072 in the mid-morning trading.

Reliance Energy Ventures Ltd (REVL), a Anil Dhirubhai Ambani Group Company, made its debut on the bourses today.

REVL's Rs 10 share opened at Rs 48.90 and dipped to a low of Rs 42.85 and was trading at Rs 44.20 at 1136 hours.

The volumes were high with 96.96 lakh shares traded so far.

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