Sensex opens lower at 13,650 points today

Mumbai, Jan 9: The BSE Sensex today opened lower at 13,650.96 points against yesterday's close of 13,652.15 points on scattered selling pressure by FIIs and local investors, brokers said, Later, the Bombay Stock Exchange(BSE) Sensitive Index(Sensex) was up 47 points, at 13,699 points. It had also hit a low of 13,650.96 points and a high of 13,706.48 points. It recovered due to recovery in Asian markets.

The highlight of the early-trade was a weak debut by oil explorer Cairn India. The stock was hovering at Rs 134.85 on BSE, after debuting at Rs 140. The IPO price is Rs 160 per share. Early volumes in the scrip were a huge 82.9 lakh shares on BSE.

Meanwhile, the S&P CNX Nifty index of NSE resumed flat at 3,933.30 points. Later the index recorded a high at 3,963.75 points and a low at 3,929.40 points. The current index is quoted high at 3,955.50 points with modest gain of 22.10 points from its last close of 3,933.40 points.

Oil explorer ONGC rose 0.8 per cent to Rs 919. US crude oil fell below USD 56 a barrel as winter weather remained unusually warm in the United States.

Ranbaxy Laboratories rose 0.7 per cent to Rs 422, after it said it was interested in the generics business of Germany's Merck.

Reliance Communications dropped 0.3 per cent to Rs 433.90, following reports that it plans to raise up to USD 1.2 billion by way of a Global Depository Receipt issue.

Cigarette major ITC rose one per cent to Rs 164.30, on bargain-hunting after a recent fall in the counter. Two-wheeler major Bajaj Auto rose nearly one per cent to Rs 2,738.

IT shares edged higher. Infosys rose 0.5 per cent to Rs 2,218, Wipro gained 0.9 per cent to Rs 585 and Satyam Computer added 0.5 per cent to Rs 489.

Stock markets in Asia recovered from Monday's sell-off. Key benchmark indices in Japan, South Korea and Taiwan were up by between 0.2 per cent to 0.6. However, Hong Kong's Hang Seng was down 0.5 per cent.

The Dow Jones industrial average was up 25.48 points, or 0.21 per cent, at 12,423.49. The Standard&Poor's 500 Index was up 3.13 points, or 0.22 per cent, at 1,412.84.

The NASDAQ Composite Index was up 3.95 points, or 0.16 per cent, at 2,438.20.

UNI