Sensex opens high at 17,610 points

Mumbai, Feb 8: BSE Sensex today resumed firm at 17,610.07 points with a modest gain of 83.14 points from its last close of 17,526.93 on fresh speculative demand from FIIs and local investors.

''High volatility was witnessed on the bourses in early trade. After a firm open Sensex soon slipped into the red. Though it later recovered, the recovery proved short-lived. Reliance Industries rose. IT and oil&gas stocks rose. The market breadth was weak,'' brokers said. Later, the 30-share BSE Sensex was up 25.14 points or 0.14 per cent to 17,545.62. Sensex touched a high of 17,688.73 at the onset of the trading session. At day's high, Sensex surged 161.80 points.

Sensex shed 97.08 points at the day's low of 17,429.85, hit in early trade.

The broader CNX S&P Nifty index of NSE was up 19.05 points or 0.37 per cent at 5,152.30 from its last close. Before it resumed flat at 5132.10 points. It recorded a high and low at 5173.85 and 5078.25 points, respectively.

The BSE Mid-Cap index was up 0.32 per cent at 7,805.76, while the BSE Small-Cap was down 0.24 per cent at 10,178.02.

IT stocks gained on bargain hunting after they fell for the last three consecutive trading sessions. Infosys was up 4.75 per cent to Rs 1,551.25 followed by Satyam Computer Services by 5.03 per cent to Rs 410.50, Tata Consultancy Services by 3.3 per cent to Rs 912.05 and Wipro by 2.48 per cent to Rs 420 edged higher.

Oil&gas stocks rose. India's largest private sector firm by market capitalization and oil refiner Reliance Industries rose 1.59 per cent at Rs 2,463.50. Reliance Petroleum (up 0.84 per cent to Rs 168), ONGC (up 0.66 per cent to Rs 995) and Indian Oil (up 0.19 per cent to Rs 506) edged higher.

India's largest private sector bank by assets ICICI Bank gained by 0.9 per cent to Rs 1,115.20.

India's largest engineering and construction firm by revenue Larsen&Toubro fell 1.72 per cent to Rs 3,567.95.

India's second largest power utility firm by revenue Reliance Energy rose 1.91 per cent to Rs 2,025.10.

Among the Sensex losers, DLF declined 3.43 per cent to Rs 815.90 and was the top loser from Sensex pack. Bajaj Auto fell 1.49 per cent to Rs 2,247, Mahindra&Mahindra down 1.31 per cent to Rs 650 and Bharti Airtel edged lower 0.94 per cent to Rs 854.40, brokers added.

UNI