Sensex opens higher by 95 points on firm Asian cues
The Bombay Stock Exchange benchmark Sensex today opened higher by 95 points on increased capital inflows by foreign funds ahead of the economic survey amid firming trends in the global markets.business Updated: Jul 02, 2009 11:18 IST
The Bombay Stock Exchange benchmark Sensex on Thursday opened higher by 95 points on increased capital inflows by foreign funds ahead of the economic survey amid firming trends in the global markets.
The 30-share index gained 95.05 points at 14,740.52 points. Yesterday, it closed higher by 151.63 points.
The wide-based National Stock Exchange index Nifty moved up by 42.75 points to 4,383.65 points.
Marketmen said pick up in buying by foreign funds, triggered by firming trends on the Asian markets and covering-up of short positions by speculators influenced the trading sentiments.
Shares of state-run oil companies were in demand after the government raised fuel prices yesterday, which will ease subsidy burden on these firms.
Indian Oil Corporation was up by 3 per cent at Rs 557.70, Hindustan Petroleum by 2.49 per cent at Rs 319 and Bharat Petroleum by 2.89 per cent at Rs 466.80. Reliance Industries appreciated by almost one per cent to Rs 2,079.
ONGC rose by 3.22 per cent at Rs 1,086.50, Sterlite Industries by 1.37 per cent at Rs 619.60, Tata Steel by 1.27 per cent at Rs 400.
Among major Asian stock markets, Hong Kong's Hang Seng was up one per cent in morning trade.