Sensex opens firm at 14,271.24 pts, up by 54 pts

By Staff
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Google Oneindia News

Mumbai, Jan 19 (UNI) The BSE Sensex today opened high at 14,271.24 points with a massive gain of around 54 points from its last close of 14,217.75 on fresh speculative buying support by FIIs and mutual funds, brokers said.

The BSE Sensex slipped sharply, after a strong opening as profit- booking gripped the bourses at higher levels. Later, the BSE Sensex was down 47.42 points, at 14,173.55.

The BSE benchmark index had opened with a spurt, at 14,271.24, and surged to a high of 14,300.11, buoyed by stronger-than-expected results of index heavyweight Reliance Industries (RIL) and a fall in global crude oil prices.

Immediately after, the Sensex declined sharply as selling began, and continued till the benchmark index slipped to a low of 14,137.03.

Index heavyweight Reliance Industries was the top gainer, up 1.02 per cent to Rs 1,381 on 2.98 lakh shares. It had also surged to an all-time high of Rs 1,409, in early trade.

Satyam Computers was the top loser, down 5.30 per cent to Rs 488 on 7.24 lakh shares. The stock plunged to Rs 476, since its results did not match expectations.

Ranbaxy (down 2.02 per cent to Rs 421.50), Cipla (down 1.86 per cent to Rs 253.50) and Tata Steel (down 1.23 per cent to Rs 469.70) were the other losers.

US stock indices ended lower on Thursday, after a conservative forecast from Apple sparked worries about the health of the technology sector.

The Dow Jones industrial average ended the day down 9.22 points, or 0.07 per cent, at 12,567.93. The Standard&Poor's 500 Index fell 4.25 points, or 0.30 per cent, to finish at 1,426.37, while the Nasdaq Composite Index dropped 36.21 points, or 1.46 per cent, to close at 2,443.21.

US crude oil futures for February delivery touched USD 49.90 a barrel, the lowest since May 2005, and settled down USD 1.76 at USD 50.48 a barrel on the New York Mercantile Exchange. The price of NYMEX crude oil has tumbled 36 per cent from a record peak of USD 78.40 struck last July, brokers added.

UNI

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