Sensex gains 247 pts in early trade

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Mumbai Feb 19: The sensitive index of Bombay Stock Exchange (BSE) opened at firm note and surged 247.84 points on extended buyings following strong rally in Asian markets.

Sensex today resumed the day with a positive gap of 167.21 points at 18,215.26 on fresh inflows in the early trade. It touched an intra-day high at 18,295.89 in the mid-morning trading session following the strong global cues.The market surged in opening trade and breadth was strong so far.All the members of 30-share Sensex pack were trading in green. The broader based S&P CNX Nifty index of National Stock Exchange (NSE) was up 73.15 points or 1.41 per cent at 5,351.55. BSE Mid-cap and Small cap were also at marginal gains along with the sectoral indices.

Oil&Natural Gas Corporation advanced 1.90 per cent to Rs 1040.45. It was the top gainer from Sensex pack. Reliance Industries (RIL) rose 1.20 per cent to Rs 2582.50 on 40,373 shares. ICICI Bank was up 1.82 per cent to Rs 1230.10, ACC was up 1.33 per cent to Rs 766.10 and Tata Motors with 1.47 per cent to Rs 744.05, joined the gain rally from Sensex pack.

The Union Budget 2008-09 will be the key event to watch out for in the near term, brokers said.

As per provisional data, foreign institutional investors (FIIs) sold shares worth Rs 342.08 crore on February 18. Domestic institutional investors (DIIs) were net sellers of shares worth Rs 134.16 crore on that day.

FIIs were net buyers to the tune of Rs 90.15 crore in the futures&options segment on February 18. They were net buyers of index futures to the tune of Rs 89.45 crore and sold index options worth Rs 21.38 crore. They were net buyers of stock futures to the tune of Rs 6.01 crore and bought stock options worth Rs 16.07 crore.


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