BSE Sensex opens in the green
Mumbai, Sep 4: The Bombay Stock Exchange (BSE) Sensex today opened higher at 15,478.53 from it's previous close of 15,422.05 on account of a feel-good factor following news of India's robust economy coupled with easing inflation.
''The market stayed firm on continued buying interest for index pivotals at higher levels. This is the eight straight session of gains for the market. Asian markets recovered after initial fall today,'' market participants said.
The National Stock Exchange (NSE) S&P CNX Nifty also opened higher at 4,481.55 from it's previous close of 4,474.75 but later pared gains slipping by around 4 points at 4,470.05 in early trade.
The market breadth is strong on the BSE, with 1,612 shares advancing as compared to 461 that declined, while 54 remained unchanged. The total turnover here amounted to Rs 852 crore till now and from the 30-member Sensex pack, 23 rose while the rest declined, official records reveal.
The early winners include Cipla, ACC, Ranbaxy Laboratories and Reliance Industries (RIL), while the prominent losers were Tata Motors, NTPC, ITC and Bharat Petroleum Corporation (BPCL).
In Asia, Japan's Nikkei slipped by 0.53 per cent at 16,437.58, South Korea's Seoul Composite plunged 0.05 per cent to 1,880.85 and Taiwan Weighted was down 0.28 per cent at 8,955.12, while China's Shanghai Composite rose 0.11 per cent to 5,327.05, Hang Seng surged 0.89 per cent at 24,116.79 and Singapore's Straits Times was up 0.42 per cent to 3,400.49.
US markets remained closed yesterday on account of Labor Day holiday.
Crude oil paused near a four-week high in New York on signs that a hurricane in the Caribbean may weaken and break up without disrupting production in the Gulf of Mexico. Crude oil for October 2007 delivery was at USD 74.13 a barrel, up 9 cents, in after-hours electronic trading on the New York Mercantile Exchange.
UNI