Sensex opens in red, recovers from lower level

Mumbai, June 28: The Bombay Stock Exchange (BSE) sensitive index (Sensex) today opened in the red by 78 points at 10,067.55 as compared to the previous close of 10,151.01.

The Sensex soon fluctuated and touched the low of 9,909.75 on strong volatility in the Asian markets. However, as the market recovered from the lower levels, it is currently trading at 10,067.55 points, which is still below the previous close.

Most important factor influencing the Indian market is not so firm the Asian markets, and experts feel the negativity is the resultant effect of expected hike in US Federal interest rates by at least 25 basis points in today's meeting of the US Federal Reserve Bank.

All the sectoral indices on the BSE were in the red, led by metals, which was down by 1.94 per cent and followed by Bankex, PSU, CD and smallcap. Even all Midcap indices were down between 1.3 to 1.7 per cent.

Major gainers on the index were heavyweight Reliance Industries, which was up 0.60 per cent after its yesterday's announcement of venture into retail sector, pharma major Ranbaxy was up 1.29 per cent, Maruti up by 0.99 per cent, Hero Honda up by 0.98 per cent and BHEL up by 0.88 per cent.

Major losers were HDFC down by 3.84 per cent, RIL Comm Venture down by 2.66 per cent, Bharti Tele was down by 2.22 pe cent, SBI by 2.16 per cent, ONGC by 1.98 per cent, ICICI by 1.93 per cent, Wipro by 1.90 per cent, and TATA Steel, Satyam and Dr Reddy's were down between 1.44 to 1.76 per cent.

UNI