MUMBAI: The market opened on a positive note Monday, as investors bought stocks tracking positive global cues. Oil and power stocks led the rally, while banks were subdued.
At 10:05 am, the Bombay Stock Exchange’s Sensex was up 64 points or 0.37 per cent at 17,412.47, making a high of 17,523.81.
Biggest Sensex gainers were Reliance Energy (up 1.55%), Ranbaxy Laboratories (1.4%), Reliance Communications (1.37%), Ambuja Cements (1.24%), Tata Motors (1.2%) and ONGC (1.1%).
ICICI Bank (1.05%), Tata Steel (0.68%) and HDFC Bank (0.61%), Bharti Airtel (0.33%) were the losers.
The National Stock Exchange’s Nifty was up 18 points or 0.35 per cent at 5128.55, making a high of 5166.90.
Stocks rose elsewhere in Asia, led by financial companies, on speculation a plan to help US bond insurers keep their credit ratings will limit further losses related to sub-prime mortgage defaults. The Nikkei 225 added 2.43 per cent, the Hang Seng climbed 0.39 per cent and the Straits Times was up 0.55 per cent.
US stocks on Friday turned solidly higher in the final minutes of trading on word a rescue could be in the works for struggling bond insurer Ambac Financial. The Dow Jones Industrial Average was up 0.79 per cent, the Standards & Poors 500 Index rose 0.79 per cent and the Nasdaq Composite Index gained 0.16 per cent.
At 10:05 am, the Bombay Stock Exchange’s Sensex was up 64 points or 0.37 per cent at 17,412.47, making a high of 17,523.81.
Biggest Sensex gainers were Reliance Energy (up 1.55%), Ranbaxy Laboratories (1.4%), Reliance Communications (1.37%), Ambuja Cements (1.24%), Tata Motors (1.2%) and ONGC (1.1%).
ICICI Bank (1.05%), Tata Steel (0.68%) and HDFC Bank (0.61%), Bharti Airtel (0.33%) were the losers.
The National Stock Exchange’s Nifty was up 18 points or 0.35 per cent at 5128.55, making a high of 5166.90.
Stocks rose elsewhere in Asia, led by financial companies, on speculation a plan to help US bond insurers keep their credit ratings will limit further losses related to sub-prime mortgage defaults. The Nikkei 225 added 2.43 per cent, the Hang Seng climbed 0.39 per cent and the Straits Times was up 0.55 per cent.
US stocks on Friday turned solidly higher in the final minutes of trading on word a rescue could be in the works for struggling bond insurer Ambac Financial. The Dow Jones Industrial Average was up 0.79 per cent, the Standards & Poors 500 Index rose 0.79 per cent and the Nasdaq Composite Index gained 0.16 per cent.
