Sensex surges by over 137 points in opening trade

Mumbai, June 14: In early trade, the barometer Sensex today soared by 137.67 points on the Bombay Stock Exchange (BSE) to touch 14,140.76 from it's previous close of 14,003.03 points, after opening much firmer at 14,087.91, as buying resumed in index pivotals buoyed by northward-bound Asian and global markets.

The broader National Stock Exchange (NSE) Nifty Index also registered a gain of 46.65 points at 4,159.70 from its previous close of 4,113.05, after opening marginally higher at 4,113.20.

The total turnover on the premier BSE amounted to Rs 1,389 crore and market analysts explained that the market breadth here was strong as there were over three gainers for every loser. 1620 shares advanced as compared with 561 that declined while 58 remained unchanged. Among the Sensex pack, 26 advanced while only four of them declined.

Foreign Institutional Investors (FIIs) were net sellers to the tune of nearly Rs 294.16 crore in equities, while domestic institutional investors (DIIs) bought shares worth approximately Rs 331.48 crore yesterday, traders revealed.

The rupee rose today buoyed by positive cues from high-yielding Asian currencies as dealers bet foreign investors would continue pouring in funds into the surging Indian economy. In early morning trade, the rupee was at 40.89/90 per US dollar, moving up from yesterday's 40.96/97. This also adds to the positive sentiment on the bourses.

India's biggest realty firm DLF's public issue was subscribed 2.36 times in early trade, BSE data revealed.

Today's early winners include Satyam Computers, Infosys, Wipro, TCS, HDFC, Bhel, Reliance Communications, L&T, Index heavyweight Reliance Industries (RIL), State Bank of India (SBI), Sun Pharma, Aban Offshore and ONGC.

The prominent early losers were Hero Honda Motors and ICICI Bank.

Asian stocks advanced today as exporters such as Sony Corp and Samsung Electronics advanced on positive US economic news, while Woodside Petroleum took its cues from rebounding energy prices after crude oil moved back above USD 66 a barrel in the US.

Hong Kong's Hang Seng rose 1.09 per cent while Japan's Nikkei advanced 0.70 per cent. Taiwan's Taiwan Weighted up 1.25 per cent, Singapore's Straits Times rose by 0.98 per cent and South Korea's Seoul Composite was up by 2.74 per cent. However, China's Shanghai Composite was down by 1.27 per cent to 4,123.44.

Wall Street rebounded smartly yesterday, as bond yields eased and economic data came in stronger than expected. The Dow Jones Industrial Average (DJIA) jumped 187.34 points, or 1.41 per cent, to 13,482.35. Broader stock indicators also advanced sharply. The Standard&Poor's 500 index rose 22.67 points, or 1.52 per cent, to 1,515.67, and the Nasdaq Composite index rose 32.54 points, or 1.28 per cent, to 2,582.31.

Crude oil rose 91 cents, to USD 66.26 a barrel, after a government report showed a smaller-than-expected gain in United States supplies of motor fuel last week.

UNI