Sensex opens firm at 19,136.12 pts, up by 133 pts

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Mumbai, Nov 30: The BSE index today resumed firm at 19,136.12 points gaining by 133 points from its last close of 19,003.26 points on fresh speculative demand from FIIs and local finnancial intitutional investors.

Brokers said, '' The market opened on a firm note tracking firm Asian markets. Banking, metal and realty stocks were in demand. Key Asian markets, except China, were in positive territory.

Later, the 30-share BSE Sensex rose by 198.79 points or 1.05 per cent (PC) to 19,202.05. The Sensex index recorded a high at 19,232.14 points and a low at 19,006.89 points in intra day trade.

The broader based S&P CNX Nifty index of NSE was up nearly by 93 points or 1.65 pc to 5727.50 points from its last close of 5634.60 points. The Nifty index opened flat at 5633.90, later it recorded a high at 5731.85 and a low at 5632.65 points during the mid-morning session.

Asian stocks extended gains today, after comments on yesterday, by Federal Reserve Chairman Ben Bernanke reinforced expectations that the US central bank was willing to lower interest rates again at the December 11 2007 meeting. Key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan were up by between 0.62 pc to 1.96 pc. But China's Shanghai Composite index was down by 1.98 pc at 4,904.408.

US stocks ended nearly flat on yesterday and the dollar stayed off its record lows against the euro.

The market has been volatile over the past few days due to alternate bouts of buying and selling amid FII sales caused by redemption pressure in their home countries and fears of a US recession arising from US housing slump and credit crisis.

India's largest private sector firm by market capitalization and oil refiner Reliance Industries was steady at Rs 2820.

India's largest private sector bank by assets ICICI Bank fell by 0.71 pc to Rs 1154.

Infosys Technologies rose by 0.49 pc to Rs 1577.30. The company expects to maintain margins in coming quarters and the US subprime crisis had not hit IT spending by US clients, T. V. Mohandas Pai, Infosys' director for human resources said on Thursday, 29 November 2007. He further said Infosys has successfully coped with the appreciation of the rupee against the dollar.

DLF jumped by 3.87 pc to Rs 916 followed by Hindalco Industries by 2.27 pc to Rs 185, State Bank of India by 1.61 pc to Rs 2306, ITC by 0.94 pc to Rs 187.15, and HDFC bank by 0.77 pc to Rs 1690.

Bharat Heavy Electricals (Bhel) fell by 1.93 pc to Rs 2635.10 followed by Tata Motors by 0.60 pc to Rs 717.95, Bajaj Auto by 0.87 pc to Rs 2700.50,Hindustan Unilever by 0.45 pc to Rs 209.25 and Ambuja Cements by 0.50 pc to Rs 150.55.

The BSE Bankex was up by 0.69 pc to 10,674.71, the BSE Metal index was up by 2 pc to 17,209.20, and the BSE Realty index was up by 1.58 pc to 10,385.40, brokers added.


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