Sensex opens firm at 13,951 pts

Mumbai, Dec 6 (UNI) The BSE Sensex today opened firm at 13.951.09 points from it's last close of 13,937.65 points on account of fresh speculative demand from Foreign Institutional Investors (FIIs) and some domestic investors, brokers said.

Market opened on a firm note as buying momentum continued at higher levels.

The Sensex was up 46.10 points to 13983.11. It opened firm at 13951.09 and surged to an intra-day high of 14014.23.

HDFC Bank was the top gainer, up 1.88 per cent to Rs 1104 on 4093 shares at the BSE.

Tata Steel, which was up 1.45 per cent to Rs 500.10, Hindalco, which was up 1.51 per cent to Rs 178 and Hindustan Lever Limited, which was up 1.11 per cent to Rs 241.20 were the other gainers.

Index heavyweight Reliance Industries (RIL) rose 0.54 per cent to Rs 1286.90 on 93150 shares.

Satyam Computer went up 0.55 per cent to Rs 463.70, following 3.4 per cent surge in it's ADR yesterday to USD 24.42. The stock came off from an intra-day higher of Rs 469 it touched in opening trade.

L&T was the top loser, down 1.10 per cent to Rs 1446.10 on 15942 shares.

Bhel was down 0.60 per cent to Rs 877.20 and HDFC was down 0.50 per cent to Rs 1596.

As per provisional data, FIIs were net buyers to the tune of Rs 302 crore yesterday, the day when the Sensex had risen 63 points.

The cumulative FII inflow has reached USD 8.3 billion in 2006 compared to a record inflow of USD 10.7 billion in 2005.

US stocks rose yesterday as a report showing unexpected strength in the key services sector suggested earnings growth would weather the housing slowdown.

The Dow Jones industrial average rose 47.75 points, or 0.39 per cent, to end at 12,331.60. The Standard&Poor's 500 Index was up 5.64 points, or 0.40%, at 1,414.76. The Nasdaq Composite Index was up 3.99 points, or 0.16%, to close at 2,452.38.

Oil prices stalled around USD 62.50 today as caution set in ahead of the release of US inventory data, which is seen as likely to show a fall in heating fuel stocks. US crude was trading 18 cents higher at USD 62.61 a barrel, brokers added.

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