Equity markets open strong with early gains

July 30th, 2008 - 12:58 pm ICT by IANS  

A file-photo of Sensex

Mumbai, July 30 (IANS) Indian equity markets opened strong Wednesday on overnight news about a fall in crude oil prices and despite a slight initial slide remained buoyant in early trade. The 30-share benchmark sensitive index (Sensex) of the Bombay Stock Exchange opened at 14,007.32 points, a gain of 215.78 points or 1.56 percent from its Tuesday closing at 13,791.54 points. Thirty minutes into trading it was at 14,046.78, still 255.24 points or 1.85 percent above its previous close.

At the same time the S&P CNX Nifty index of the National Stock Exchange was trading at 4,262.95 points with a gain of 73.1 points or 1.74 percent from its last close.

The market breadth was positive. On BSE, 1,521 shares advanced, 470 declined and 51 remained unchanged.

Tata Steel, HDFC Bank, Reliance Power, Axis Bank and Yes Bank were among the top gainers in initial trade.

Other Asian markets were also trading higher.

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