Sensex up by 39 pts at 13,018

Mumbai, Mar 30 (UNI) The 30 scrips of sensitive index of BSE today again crossed the 13,000 mark at the opening session and touched high of 13,018.21 points with a modest gain by around 39 points against 12,979.66 points on last close on fresh speculative demand from FIIs and mutual funds.

Later, the Sensex was up 63.83 points, at 13,043. It had also hit a high of 13,070.89, while its low for the day was at 12,991.57.

Meanwhile, the C&P CNX Nifty index of NSE, however, resumed lower at 3,788.85 points against 3798.10 points. Later it recorded a high at 3,820.60 and a low at 3,785.30 points in mind-morning session.

The current index is quoted still low at 3,795.30 points with a modest loss by three points from it last close.

Pharma major Dr Reddy's was the top-gainer, up by 1.93 per cent to Rs 719.10, on a volume of 13,776 shares.

Infosys (up by 1.36 per cent), Tata Steel (up by 1.20 per cent), and HDFC Bank (up by 1.24 per cent) were the other gainers.

But index heavyweight Reliance Industries (RIL) was down by 0.06 per cent to Rs 1,355, on a volume of 40,706 shares.

HDFC was the top-loser, down by 1.57 per cent to Rs 1,511, as just 3,223 shares changed hands in the counter on BSE.

HLL (down by 1.10 per cent) and TCS (down by 1.04 per cent) were the other losers.

Patel Engineering gained by 5 per cent to Rs 348.90, after the company said its joint venture with Gammon India had bagged an order worth Rs 806 crore for a 434-Megawatt hydroelectric project. The work involves construction of a 15-kilometre head race tunnel, a 140-metre deep surge shaft and a power house, Patel Engineering said in a statement.

The market may remain firm today, as mutual funds are likely to support prices to prop up their year-end net asset values (NAVs).

Today is the last trading session of the financial year FY 2007 (year ending 31 March 2007).

Stock exchanges have clubbed the settlement of trading done today with that of Monday (April 2)'s trading, as banks remain closed that day for the financial year closing.

The market-wide rollover of March futures to April was at 70-72 per cent, as against 78-80 per cent during the previous expiry.

Rollover in Nifty March futures to April was at 65 per cent, as against 74 per cent in the previous expiry, according to estimates.

A large portion of the rollover to April was short positions due to the existing weak investor sentiment.

Asian markets were mostly in the red on Friday (March 30 2007).

Key benchmark indices in Hong Kong, China, Singapore, South Korea and Taiwan were down between 0.03 - 0.15 per cent. Japan's Nikkei was up by 0.07 per cent.

The broader Standard&Poor's 500 index gained 5.30 points, or 0.37 per cent, to 1,422.53. The Nasdaq Composite Index edged up by 0.78 point, or 0.03 per cent, to 2,417.88 on yesterday.

US Oil rose nearly by 1 per cent and quoted at 64 cents to USD 66.67 a barrel, brokers added.

UNI