Sensex moves over 17,250 level in early trade

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Mumbai, May 15: Sensitive index of Bombay Stock Exchange today surged over 250 points to cross far over 17K level on sustained buying interest in the opening trade.

Sensex resumed the session with a positive gap of 137.84 points at 17,116.19 and further pared the gains to cross over 17,225 level in mid-morning trading session following positive global cues, dealers said. Meanwhile, the broader-based S&P CNX Nifty index of National Stock Exchange was up by 64.80 points or 1.29 per cent at 5,076.55. The market breadth was strong on BSE with 1,276 shares advanced as compared to 324 declined and 40 remained unchanged.

Index frontliners, ICICI Bank climbed 3 per cent to Rs 923.15 on 1.02 lakh shares. It was the top gainer from Sensex pack. Reliance Industries (RIL) was up 1.32 per cent to Rs 2,563.10 on 72,326 shares.

India's construction and engineering major Larsen&Toubro gained 2.58 per cent to Rs 2,907 after French cement producer Lafarge said that it had acquired L&T Concrete at an enterprise value of Rs 1,480 crore.

The deal involves L&T's 66 concrete plants across India with an estimated volume of 41 lakh cubic meters in 2008.

IT pivotals advanced on fresh buying as the Indian currency kept on depreciating against Dollar in this week. Infosys was up 2.96 per cent to Rs 1,881, Wipro was up 1.27 per cent to Rs 510 and TCS was up 1.34 per cent to Rs 982.95.

As per provisional data, foreign funds purchased shares worth a net Rs 85.12 crore in the previous session. Domestic funds bought shares worth a net Rs 310.41 crore on that day.

Foreign Institutional Investors (FIIs) were net sellers of Rs 254.83 crore in the futures and options segment yesterday. They were net sellers of index futures to the tune of Rs 38.62 crore and sold index options worth Rs 164.70 crore. They were net sellers of stock futures to the tune of Rs 52.20 crore and bought stock options worth Rs 0.69 crore.


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