BSE Sensex opens above 15,000

Mumbai, Aug 30: The Bombay Stock Exchange (BSE) Sensex today opened above the 15,000 mark at 15,168.69 from it's previous close of 14,993.04, notching up a gain of 175.65 points, as US stocks rallied overnight after expectations rose that the US Federal Reserve would cut rates next month, so as to cushion the impact of the subprime crisis on the broader US economy.

''Market breadth was strong on BSE as small-cap and mid-cap shares also participated in the early rally today,'' market participants said.

The National Stock Exchange (NSE) S&P CNX Nifty rose marginally higher by around just one point at 4,360.35 from it's previous close of 4,359.30.

''Market is expected to see volatility as this month's futures&options (F&O) contracts expire today. The marketwide rollover from this month's series to next month's series stood at 64.7 per cent as compared to 60 per cent in July expiry, so far. Nifty rollover was 64 per cent as against 61 per cent in July series,'' market analysts cautioned.

BSE data reveals that the total turnover in early trade amounted to Rs 1,293 crore. The market breadth is strong with 1,545 shares advancing as compared to 461 that declined, while 51 remained unchanged. The BSE Mid-Cap index was up 0.98 per cent to 6,513.36, while the BSE Small-Cap index rose 1.37 per cent to 7,982.48. Among the 30-stock Sensex pack, 29 were trading higher, while Hindustan Unilever was the sole loser.

The early leaders include Tata Motors, Tata Steel, Ranbaxy Laboratories, Reliance Communications and Reliance Industries.

All Asian markets were trading higher today. Hang Seng, Nikkei, Taiwan Weighted, Singapore's Straits Times and South Korea's Seoul Composite all edged higher.

US stocks rallied across the board yesterday boosted by strong gains in technology and energy shares. The Dow Jones Industrial Average surged 247 points, or 1.9 per cent, at 13,289. The S&P 500 index rose 31 points, or 2.2 per cent, at 1,463 and the technology-laden Nasdaq Composite rallied 62 points, or 2.5 per cent, at 2,563 points.

Crude oil prices steadied today. US crude inched up 2 cents to USD 73.53 a barrel.

UNI