Sensex opens firm at 19,947.72 pts

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Mumbai, Nov 15: The BSE index today resumed positive at 19,947.72 points with a small gain of around 18 points from its last close of 19,929.06 points on fresh speculative demand from FIIs and local financial institutional investors.

Brokers said, ''Later select equity prices edged lower on opening as investors rushed to book profits after yesterday's record breaking rally that was triggered by easing of worries about the US credit crisis. IT stocks edged lower. Index heavyweights Reliance Industries, ICICI Bank declined. Market breadth was strong.

The market has been volatile in recent sessions, caught between jitters about the US housing problems and optimism about India's economic outlook.

Later, the 30-share BSE Sensex was down 13.75 points or 0.07 per cent (pc) to 19,915.31. At the day's low of 19,768.98, Sensex had lost 160.08 points from it last close.

The broader CNX S&P Nifty index of NSE resumed firm at 5942.70 points from it last close of 5937.90 points. Later it moved up 21.4 points or 0.36 per cent to 5959.30.

The BSE Mid-Cap index rose by 0.91 pc to 8,361.32, while the BSE Small-Cap index hiked by 1.05 pc to 10,144.54.

India's largest private sector firm by market capitalization and oil refiner Reliance Industries fell by 0.26 pc to Rs 2880.

India's largest private sector bank by assets ICICI Bank fell by 1.40 pc to Rs 1263.

India's largest commercial lender State Bank of India hiked by 0.97 pc to Rs 2369 on hopes the government would soon approve its right issue. Bharti Airtel moved up by 2.95 pc to Rs 886.10, Maruti Suzuki India gained by 1.76 pc to Rs 1056.90, Tata Steel rose by 1.84 pc to Rs 873.75, Mahindra&Mahindra hardened by 0.92 pc to Rs 721, Hindalco Industries rose by 1.40 pc to Rs 220.70 and Reliance Energy hiked by 1.47 pc to Rs 1948.

The BSE Metal index moved up by 1.50 pc to 18,023.03, the BSE Consumer Durables index rose by 1.01 pc to 5,195.29 and The BSE IT Index fell by 1.32 pc to 4,223.64.

Asian markets edged lower due to overnight fall in US stocks. Key benchmark indices in Hong Kong, South Korea, Singapore and Taiwan were down by between 0.47 pc to 0.89 pc. Japan's Nikkei was up by 0.34 pc.

US stocks fell yesterday, amid concerns about a wider fallout from the housing downturn and credit crunch. Dow Jones Industrial Average lost 76.08 points or 0.57 pc to 13,231.01. The tech laden Nasdaq Composite Index shed by 29.33 points or 1.10 pc to 2,644.32, brokers added.


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