Mumbai: BSE Sensex opens low at 13,139 pts

Mumbai, Feb 2: The BSE Sensex today opened low at 13,139.10 points compared to 13,159.55 points on the previous day's close on profit booking by local big operators.

The market drifted lower in early trade amid volatility. Cement and steel shares edged higher since producers raised prices yesterday. ITC suffered an early setback.

Later, the Sensex was down 42 points, at 13,116. It moved between positive and negative in early trade, within a range of 13,073.29 - 13,179.71.

Meanwhile the S&P CNX Nifty index of NSE resumed flat at 3811.65 points. Later it recorded the mid-day's high at 3,829.05 and a low at 3,786.75 points. Its current index is quoted high at 3,828.65 points with a modest gain of around 17 points from it last close of 3,811.20 points.

Cement shares recovered. Grasim gained 3 per cent to Rs 2,235, Gujarat Ambuja Cements rose 3 per cent to Rs 115.30, and ACC advanced nearly 1 per cent to Rs 885. As per reports, cement firms have raised prices. In western and northern India, the cost per 50 kilogram bag has been raised by Rs 12 from March 1 this year. The average wholesale price of cement in Mumbai, after the increase, will be Rs 233 per 50 kg bag, and the retail price Rs 245 per bag.

Tata Steel rose 2 per cent to Rs 461, on reports it had raised steel prices by Rs 1,000 per tonne.

State-run Steel Authority of India (SAIL) gained 1 per cent to Rs 110, on reports it had raised hot rolled steel prices by Rs 700 - Rs 800 per tonne.

Cigarette maker ITC lost 3.5 per cent to Rs 166. A strong 3.4 lakh shares changed hands in the counter on BSE.

Engineering&construction major L&T dropped 1.8 per cent, to Rs 1,512.

HDFC Bank dropped 1.5 per cent to Rs 966. Its ADR dropped 1.1 per cent to USD 65.60 on Thursday.

Infosys slipped 0.5 per cent to Rs 2142.

Tata Motors shed 0.9 per cent to Rs 781.50. Tata Motors said on Thursday vehicle sales rose 19 per cent in February to 53,707 units from 45,113 units a year earlier.

Bajaj Auto (BAL) recovered from Thursday's fall. The stock was up nearly 2 per cent to Rs 2,564.

Hero Honda hiked 1.9 per cent to Rs 680. Hero Honda said on Thursday it sold 280,515 units in February, up 12 per cent from 2,50,695 units reported a year earlier.

Asian markets today were mostly in the green. Key benchmark indices in China, Hong Kong, South Korea and Taiwan were up between 0.3 and 1.3 per cent. But Japan's Nikkei 225 average was down nearly 1 per cent, brokers added.

UNI