Equity markets open with big gains, RCVL lists at Rs 290/298

Mumbai, Mar 6 (UNI) The Bombay Stock Exchange (BSE) 30 share sensitive index (Sensex) opened 21 points up at 10,616.99 points as compared to last close of 10,595 points.

Sensex hit a high of 10,702.51 points in the first half an hour of trading and was trading at 10,690 points up by 94.78 points.

Midcap stock were doing well with the BSE Midcap index up by more than one per cent.

Metal, Automobile and FMCG indices of the BSE were also up by more than a per cent this morning.

Anil Ambani owned Reliance Communications Venture Limited (RCVL) was today listed on the stock markets.

On the Bombay Stock Exchange (BSE) RCVL was listed at Rs 290. It hit a high of Rs 309 immediately after listing.

On the National Stock Exchange (NSE) RCVL was listed at Rs 298 and it hit a high of Rs 307 immediately.

However, the stock was trading lower by around Rs 10 at Rs 280.90 at 1045 hrs.

Over 1.4 crore shares were traded on the BSE/NSE soon after listing.

Market cap of RCVL reached Rs 36,450 crore on listing in the bourses today.

The top gainers on the Sensex this morning were Tata Motors, Reliance Energy, Tata Steel, Dr Reddy's Lab, Hindalco, ITC, Tata Power, NTPC, Bajaj Auto and Larsen&Toubro.

Stock trailing on the Sensex were Maruti, Bharti Televenturres, Wipro, Grasim Industries, Gujarat Ambuja Cements, HDFC Bank.

The Nantional Stock Exchange (NSE) 50 share S&P CNX Nifty index opened flat at 3,147 points and was trading up by 25 points at 3,172 points.

The global crude oil price above USD 63 per barrel at the the New York Mercantile Exchange (NYMEX) will definetly dampen market sentiments during the day.

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