BSE Sensex and Nifty on positive terrain

Mumbai, July 30: The Bombay Stock Exchange (BSE) Sensex surged by 128.43 points by early afternoon today, to touch 15,363.00 from it's previous close of 15,234.57 after opening firmer at 15,278.03 as fresh buying emerged in banking scrips and index pivotals following positive cues from buoyant Asian indices.

Similarly, the National Stock Exchange (NSE) Nifty also gained 22.55 points at 4,467.75 from it's previous close of 4,445.20, after opening weaker at 4,4442.35.

Analysts say that the market breadth so far is positive on the BSE as 1,474 shares have advanced as compared to 949 that have declined. 65 have remained unchanged. The BSE Mid-Cap index is up 0.70 per cent to 6,644.48, while the BSE Small-Cap index has gained 0.81 per cent to 7,990.33. The total turnover here till now is Rs 2345 crore. Among the Sensex pack, 22 advanced while the rest declined.

The early leaders include Hindustan Unilever, State Bank of India (SBI), Reliance Energy, Grasim Industries, Reliance Industries (RIL) and India cements, while the laggards include ITC, Hindalco Industries, Infosys, Dr Reddy's, I-flex Solutions and Bajaj Auto.

Asian markets too, recovered from initial fall. Japanese Nikkei (up 0.03 per cent at 17,289.30), Seoul Composite (up 1.25 per cent to 1,906.71), Straits Times (up 0.39 per cent to 3,506.18), and Shanghai Composite (up 1.92 per cent at 4,428.72).

Wall Street extended its steep decline for the second straight day on Friday. The Dow slipped 208.10 points, or 1.54 per cent, to 13,265.47. Broader stock indicators also fell. The S&P 500 ended down 23.71 points, or 1.60 per cent, at 1,458.95. The Nasdaq Composite index fell 37.10 points, or 1.43 per cent, to 2,562.24.

Oil prices were lower in morning in Singapore trade today on profit-taking even as key producer Iran expressed opposition to any hikes in OPEC crude output. New York's main contract, light sweet crude for September delivery, was down 35 cents at USD 76.67 a barrel from 77.02 dollars in late US trade on Friday. Brent North Sea crude for September eased 41 cents to USD 75.85.

UNI