BSE Sensex opens firm at 14,191.34 pts

Mumbai, Feb 22: The BSE Sensex today resumed high at 14,191.34 points against 14,188.49 points on the previous day's close on fresh speculative demand from Foreign Institutional Investors(FIIs) and mutual funds.

The market opened firm, tracking firm Asian markets and data showing greater buying by FIIs.

Index heavyweights Reliance Industries and Bharti Airtel edged higher.

Later, the Sensex was up 92 points to close at 14,280. It also hit a high of 14,287.03 during the mid-morning session.

Reliance Industries (RIL) hiked 1 per cent to Rs 1421. As per reports, global oil major, Chevron Corporation may assist RIL in developing an exploration block in the oil-gas rich Krishna-Godavari (KG) basin.

Bharti Airtel gained 1.3 per cent to Rs 816.75. As per reports, a team of executives from Wal-Mart Stores led by Vice-Chairman Michael Duke has arrived in Mumbai to review the retail stores and hold meetings.

Reliance Communications hiked by 0.8 per cent to Rs 450.45, recovering after a recent slide.

Firstsource Solutions was trading at Rs 82.75. The stock debuted at Rs 75.10 compared to the IPO price of Rs 64. Early volumes in the stock were a huge 87.2 lakh shares on BSE.

Tata Steel rose 1.4 per cent to Rs 461.90, extending its recent recovery tracking firm global steel prices.

Other IT pivotals edged higher. TCS gained 0.9 per cent to Rs 1298, and Satyam Computer rose 1.2 per cent to Rs 468.

Asian markets were firm today. Key benchmark indices in Hong Kong, Japan, South Korea and Singapore were up between 0.12 and 1.1 per cent. Japan's Nikkei average was up 1 per cent led by exporters as the yen hit a record low versus the euro and fell against the dollar after Bank of Japan (BoJ) signalled future interest rate rises would be slow to come. BoJ on Wednesday raised interest rates to 0.5 per cent from 0.25 per cent.

US blue-chips fell on Wednesday after stronger-than-expected inflation data stirred interest-rate worries. But the Nasdaq ended at a six-year high, as investors snapped up Apple Inc and other recently pummelled technology shares, believing the sector may offer the best earnings growth.

The Dow Jones industrial average fell 48.23 points, or 0.38 per cent, to end at 12,738.41 -- a day after it closed at yet another record. The Standard&Poor's 500 Index dipped 2.05 points, or 0.14 per cent, to finish at 1,457.63.

The Nasdaq Composite Index rose 5.38 points, or 0.21 per cent, to 2,518.42, its highest close since March 2001, brokers added.

UNI