Sensex opens firm at 14,217.80 pts, up by 35 pts

By Staff
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Google Oneindia News

Mumbai, Jan 22: The sensitive index of Bombay Stock Exchange (BSE) today resumed higher at 14,217.80 points with a modest gain of 35 points from its last close of 14,182.71 points, on fresh speculative demand from FIIs and mutual funds, brokers said.

The market edged up, boosted by firm Asian markets and continued FII-buying. However, the benchmark index pared gains after the initial surge.

Later, the Sensex was up just 25 points, at 14,207. It had risen as many as 76.36 points, to 14,259.07, at the onset of trading.

Tata Motors rose nearly 1 per cent to Rs 958.60, after the company said it had initiated construction of the small car project at Singur, West Bengal.

Maruti Udyog rose 0.5 per cent to Rs 916, ahead of its Q3 results, which are due today.

Bharti Airtel rose 0.8 per cent to Rs 687.50, extending a pre-results' rally. The company unveils Q3 results tomorrow.

Bhel rose nearly 2 per cent to Rs 2,315, on expectations of strong Q3 results.

Sun Pharma rose 0.5 per cent to Rs 1,037.50, after it received tentative approval from the US Food and Drug Administration for sertraline hydrocholoride tablets. Sertraline, the generic equivalent of Pfizer Inc's Zoloft, treats depression and anxiety.

ICICI Bank lost nearly 1 per cent to Rs 977, even as it reported stronger than expected Q3 results on Saturday.

Satyam Computer (down 2 per cent to Rs 477) edged lower for the second day in a row after disappointing results for December 2006 quarter on last Friday.

Asian stocks edged higher on Monday following a recovery in oil and metal prices. Key benchmark indices in Hong Kong, Japan, Singapore and Taiwan were up between 0.12 - 2 per cent, brokers added.


UNI

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