Sensex opens firm at 17,831.68 pts

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Mumbai, Oct 5: The Bombay Stock Exchange's (BSE) sensitive index today opened high at 17,831.68 points with a modest gain of around 54 points from it last close on fresh speculative demand from FIIs in view of bullish advice from global markets, brokers said.

The market opened on a positive note, taking global cues. Volatility persisted, with the market snapping its initial gains to trade in red for a short while before gaining ground once again.

Reliance Industries hit an all-time high in early trade. Asian markets were mixed. The overnight US markets ended marginally positive.

Later, the BSE 30-share Sensex was up 56.68 points to 17,836.98 points in early trade. It opened with a gap of 54.54 points at 17,831.68, and touched a high of 17,924.06 and a low of 17,765.38 in early trade.

The S&P CNX Nifty of National Stock Exchange (NSE) resumed flat at 5208.15 points, later it was up 0.95 points. Meanwhile it came down at 5,192.05 in early trade. The current index is till up at 5222.80 with a modest gain of 14 points from its last close.

The BSE Mid-Cap index was up 26.62 points, or 0.35 per cent (pc), to 7,602.89, and the BSE Small-Cap index advanced 50.24 points, or 0.55 pc, to 9,192.16. Thus, both the indices had outpeformed the market.

Two-wheeler manufacturer Bajaj Auto rose 1.45 pc to Rs 2,617 and was the top gainer among the Sensex pack. Other Sensex gainers included Reliance Communications (up 1.34 pc to Rs 642.90), Bhel (up 1.21 pc to Rs 2,117), HDFC (up 1.14 pc to Rs 2,523) and State Bank of India (up 1.09 pc to Rs 1,921).

Ambuja Cement was down 0.88 pc to Rs 146 and was the top loser among the Sensex constituents. Tata Motors (down 0.83 pc to Rs 792), TCS (down 0.8 pc to Rs 1,070), Cipla (down 0.79 pc to Rs 187.55) and ICICI Bank (down 0.79 pc to Rs 1,053) were the other losers from Sensex pack.

The largest privete sector company and oil refiner Reliance Industries rose 1.81 pc to Rs 2466.30. It hit an all-time high of Rs 2,539 today. Power Grid Corporation of India was trading at Rs 100 on BSE on its debut, a premium of 92.31 pc over the IPO price of Rs 52.

Hexaware Technologies had jumped 3.59 pc to Rs 125.65 on BSE after securing a large order from a leading German financial institution to upgrade its technology.

Asian markets, which opened before the Indian markets, were trading mixed today. Taiwan's Taiwan Weighted (down 0.26 pc to 9,602.53) and Japan's Nikkei (down 0.01 pc at 17,091.86) were weak.

Hong Kong's Hang Seng (up 2.02 pc to 27,519.97) and Singapore's Straits Times (up 0.6 pc to 3,806.54) edged higher.

American markets rose marginally on yesterday. The Dow Jones Industrial Average index ended up 6.26 points to 13,974.31 points and Nasdaq up 4.14 points to 2,733.57, brokers added.


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