Sensex opens higher by 85 points

Written by:
Subscribe to Oneindia News

Mumbai, Mar 28: The BSE Sensex today opened positive nearly by 85 points at 16,100.26 points from it's last close of 16,015.56 points on fresh speculative demand from FIIs in view of strong advice from Asian markets.

Brokers said, ''The key indices opened higher tracking a rebound in Asian markets. The US markets, however, ended lower overnight as nervousness about further write-downs pushed down financial shares. Bucking the trend in the US market, the key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan were up by 0.09 per cent to 2.57 per cent. Back home, banking shares declined for the second consecutive day. Consumer durables and metal stocks edged higher. Mid-caps and small-caps gained with their barometer indices on BSE outperforming the Sensex. Tata Steel surged.

Market is keenly awaiting the inflation figures to be announced later in the day. Later, the 30-share BSE Sensex was up 61.12 points or 0.38 per cent at 16,076.68. The index gained 152.39 points at session's high of 16,167.95, hit in the onset of trading.

The broader CNX S&P Nifty was up 21.15 points or 0.44 per cent at 4851.40.

The BSE Mid-cap index was up by 1.40 per cent at 6,363.83. The BSE small-cap index was up 2.21 per cent at 7,692.79.

Low rollovers from March 2008 series to April 2008 series today witnessed, when derivative contracts for March 2008 series expired.

As per reports, the marketwise roll-over of derivative positions series stood at 79 per cent as compared to 84 per cent in March 2008 series from February 2008. Similarly, Nifty roll-over stood at 63 per cent as against 75 per cent during in March 2008 series from February 2008.

India's largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) rose by 0.99 per cent to Rs 2297.50.

India's largest private sector bank by assets ICICI Bank fell 2.34 per cent to Rs 815.

India's largest engineering and construction firm by revenue Larsen&Toubro fell by 0.88 per cent to Rs 2989.70.

Top Sensex gainers were, Tata Steel was up by 5.83 per cent at Rs 693 followed by ACC by 2.67 per cent at Rs 841, Jaiprakash Associates by 2.38 per cent at Rs 236.65, Ranbaxy Laboratories by 1.93 per cent at Rs 444.05 and DLF by 2.19 per cent at Rs 688.80.

Top Sensex losers were, ONGC came down by 2.46 per cent at Rs 1042.95 followed by HDFC Bank by 1.70 per cent at Rs 1410.60, Tata Motors by 1.71 per cent at Rs 644, and Hindustan Unilever by 1.60 per cent at Rs 240.10.

Housing Development Finance Corporation (HDFC) was the most active stock on BSE in terms of turnover. The HDFC stock was down by 0.36 per cent at Rs 2652 on a turnover of Rs 160.32 crore.

US markets dropped yesterday, following Oracle's weak sales outlook. Concerns about financial companies also continued. The Dow Jones industrial average slipped by 120.40 points, or 0.97 per cent, to 12,302.46. The Standard&Poor's 500 index eased by 15.37 points, or 1.15 per cent, to 1,325.76, and the Nasdaq Composite index was down by 43.53 points, or 1.87 per cent, to 2,280.83.

As per provisional data, Foreign Institutional Investors (FIIs) purchased shares worth Rs 247.98 crore on yesterday. Domestic Institutional Investors (DIIs) were net buyers of shares worth Rs 339.84 crore on same day.

FIIs were net buyers of Rs 270.74 crore in the futures and options segment on yesterday. They were net sellers of index futures to the tune of Rs 813.48 crore and bought index options worth Rs 1,198.92 crore. They were net sellers of stock futures to the tune of Rs 104.15 crore and sold stock options worth Rs 10.55 crore.

US oil futures fell USD 1.23 a barrel to USD 106.35 a barrel as traders wary over the US economic outlook took profits from a three-day rally, brokers added.


Please Wait while comments are loading...