Markets open in green

Mumbai, Apr 17 (UNI) The BSE Sensex today opened higher by 37.60 points at 13,733.18 from its previous close of 13,695.58 points in the backdrop of firm global bourses and continued buying by foreign institutional investors (FIIs).

Meanwhile, the Nifty Index also opened marginally higher by 1.05 points at the National Stock Exchange (NSE) at 4,014.40 from its previous all-time high of 4,013.35 points.

At the Bombay Stock Exchange (BSE), Software major Satyam Computers was the top-loser, down 3.56 per cent to Rs 462.30, on a volume of 1.81 lakh shares. TCS slipped 2.35 per cent to Rs 1,250, as 1.89 lakh shares changed hands in the counter on the BSE.

The Rupee's surge is a cause of concern for IT firms, as it directly impacts their revenue and profits, a lion's share of which is accounted for by exports. IT companies use the tool of hedging to mitigate risks associated with currency movements, market analysts explained.

Among other IT stocks, Infosys was down 1.42 per cent to Rs 2,098 and Wipro was down 1.85 per cent to Rs 575.75. HDFC Bank was the top-gainer, up 1.80 per cent to Rs 989.

Gujarat Ambuja Cements (up 1.11 per cent), L&T (up 1.01 per cent), and ACC (up 0.89 per cent) were the other gainers.

Markets in the Asia-Pacific were mostly in the red today after US stocks surged yesterday. Key benchmark indices in South Korea, Australia, Singapore, Taiwan and Hong Kong were down between 0.08 - 0.77 per cent.

Australian and South Korean stocks eased after hitting record-highs earlier during the day.

US stocks edged up yesterday, buoyed by a USD 25 billion buyout of student-lender, Sallie Mae, and following strong retail sales in March renewing optimism about economic growth. The Dow Jones industrial average shot up 108.33 points, or 0.86 per cent, to end at 12,720.46 -- within shouting distance of its record-high of 12,795.93 set on 20 February 2007.

The S&P 500 gained 15.62 points, or 1.08 per cent, to close at 1,468.47. The NASDAQ Composite Index advanced 26.39 points, or 1.06 per cent, to finish at 2,518.33.

UNI