Sensex opens high at 13,413.61 pts, up by 14 pts

Mumbai, Dec 12: The BSE Sensex today opened high at 13,413.61 points with a modest gain of around 14 points from it last close of 13,399.43 points on fresh speculative demand from FIIs and some domestic investors, brokers said.

The BSE Sensex index recovered on finding support at the lower level, and is now at the 13,469.54 points with a sharp gain of 70.11 points from it last close.

The Sensex witnessed high volatility in the opening session of trade. After opening flat at 13,413.61, it plunged to a low of 13,235.95. Its high for the day was at 13,446.95.

Meanwhile, the S&P CNX Nifty index of NSE resumed flat at3849.10 points.The Nifty index recorded a high and low at 3861.25 points and 3785.15 points respectively. The current index is quoted high at 3853.10 points with modest gain around four points from it last close of 3849.50 points.

HDFC Bank was the top gainer, up 1.90 per cent to Rs 1,054, on 11,405 shares.

Tata Steel (up 1.81 per cent to Rs 461.60), L&T (up 1.72 per cent to Rs 1,461) and Tata Motors (up 1.05 per cent to Rs 848.55) were the other chief gainers.

Index heavyweight Reliance Industries (RIL) rose 0.86 per cent to Rs 1,249 on 2.32 lakh shares.

But ONGC was the top loser, down 1.96 per cent to Rs 819 on 27,342 shares. Hero Honda (down 1.61 pr cent to Rs 727), HLL (down 1.64 per cent to Rs 225.50) and Bharti Airtel (down 1.17 per cent to Rs 600) followed.

Bank of India lost 1.47 per cent to Rs 181.45. It decided to acquire 76 per cent shareholding of P T Bank Swadesi Tbk, Indonesia.

On 11 December 2006, Bank of India signed a conditional sale purchase agreement with majority shareholders of P T Bank Swadesi Tbk. The acquisition will be completed after necessary approvals/confirmations from Bank Indonesia and capital market regulators in Indonesia.

US stocks edged higher on Monday. The Dow Jones industrial average rose 20.99 points, or 0.17 per cent, to close at 12,328.48.

The Standard&Poor's 500 Index ended up 3.20 points, or 0.23 per cent, to finish at 1,413.04.

The Nasdaq Composite Index gained 5.50 points, or 0.23 per cent, to end at 2,442.86.

US crude oil for January delivery fell 81 cents, or 1.3 per cent , to settle at USD 61.22 a barrel, while London Brent crude fell 36 cents to USD 61.84 a barrel, brokers added.

UNI

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