Sensex opens firm at 12,916.67 pts, up by 32 pts

Mumbai, Mar 12 (UNI) The BSE Sensex today resumed high at 12,916.67 points with a modest gain of 32 points from its last close of 12,884.99 points, on fresh speculative demand from FIIs and domestic mutual funds, brokers said.

The Bombay Stock Exchange (BSE) Sensitive Index (Sensex) spurted in the opening session, as buying resumed for battered index pivotals. Most of it is attributed to short-covering in the derivatives market.

Later, it was up by 83.16 at 12,968.15 points in mid-morning session. Its low for the day was at 12,871.79.

Meanwhile, C&P CNX Nifty index of the National Stock Exchange (NSE) resumed flat at 3,717.45 points. Later, it recorded a high at 3,760.35 and 3,713.90 points during the mid-morning session. The current index is quoted high at 3,756.45 points with a modest gain of 38 points from its last close of 3,756.45 points.

Grasim was the top gainer, up by 2.86 per cent to Rs 2,118.

Hindalco (up 1.87 per cent to Rs 130.40), Bajaj Auto (up 2.44 per cent to Rs 2,550), and Gujarat Ambuja Cements (up 1.50 per cent to Rs 111.60) were the other gainers.

Index heavyweight Reliance Industries (RIL) rose by 0.49 per cent to Rs 1,324, on 1.41 lakh shares.

Reliance Communications was the top loser, down by 2.32 per cent to Rs 413, on a volume of 2.67 lakh shares.

Aurobindo Pharma hiked by 2.63 per cent to Rs 629.90, after receiving US FDA final nod for anti-AIDS drug Didanosine oral suspension.

The market is likely to edge higher as data showed a pick up in buying by Foreign Institutional Investors (FIIs) and on firm Asian markets. The share markets in the Asia-Pacific rose on Monday, continuing a recovery after a recent slide, after US jobs data reassured investors about the health of the world's biggest economy.

Key benchmark indices in Hong Kong, Singapore, South Korea, Taiwan, Australia and Japan were up between 0.55 and 1 per cent, brokers added.

UNI