Indices Open Slightly Higher; Energy Shares Lead

MUMBAI: Equities opened slightly higher Tuesday on the back of positive global cues. Banks and energy shares pulled key indices higher, while cements and fertilizers led the rally in the broader market. At 10:05 am, the Bombay Stock Exchange’s Sensex was up 112 points or 0.63 per cent at 17,762.25.

The National Stock Exchange’s Nifty was up 36 points or 0.7 per cent at 5236.85.
Biggest Nifty gainers in early trade were Reliance Energy (up 2.93%), Cairn India (2.85%), HDFC Bank (2.26%), Nalco (2.14%), Suzlon Energy (2.13%), Unitech (1.96%) and Ambuja Cements (1.87%).

Glaxo (down 0.49%), Bharti Airtel (0.44%), Satyam Computer (0.13%) and Maruti Udyog (0.07%) were the losers. Later today Railway Minister Lalu Prasad Yadav will present the Railway Budget 2008-09, which will be eagerly eyed. Asian indices rose Tuesday, boosted by exporters and tracking a rally in the US overnight. The Nikkei 225 was 0.53 per cent higher, the Hang Seng added 1.29 per cent and the Straits Times climbed 0.46 per cent.
US stocks rose on Monday on signs two large bond insurers would stabilize, bringing a wave of relief to a market dogged by concerns of further bank write-downs. Dow Jones Industrial Average surged 1.53 per cent, Standard & Poor's 500 Index gained 1.38 per cent and Nasdaq Composite Index rose 1.05 per cent.

Sensex Up 233 Pts; Banks Lead

MUMBAI - The market opened on a positive note Tuesday tracking a bounce in global indices. Banks and oil shares led the advances. At 10:05 am, the Bombay Stock Exchange's Sensex was up 233 points or 1.4 per cent at 16,864.33. The National Stock Exchange's Nifty was up 53 points or 1.3 per cent at 4920.1

Biggest Nifty gainers in early trade comprised ICICI Bank (up 3.5%), SAIL (3.33%), Satyam Computer (3.31%), Sterlite (3.14%), Punjab National Bank (2.93%) and VNSL (2.73%). Glaxo (down 1.2%), Ranbaxy Laboratories (0.98%), Sun Pharmaceuticals (0.73%), ITC (0.46%) and Ambuja Cements (0.13%) were the losers.

Asian shares were moderately higher Tuesday taking cues from the positive close in the US. However, investors were not completely convinced by the rebound. The Nikkei 225 was up 0.81 per cent, the Hang Seng added 1.93 and the Straits Times climbed 1.65 per cent.

US indices ended higher Monday as higher oil prices saw energy shares lead the rally. The Dow Jones Industrial Average rose 0.48 per cent, the Standard & Poor's 500 Index added 0.59 per cent and the Nasdaq Composite Index gained 0.66 per cent.