Indian equities move higher in initial trade

April 16th, 2008 - 12:11 pm ICT by admin  

A file-photo of Sensex

Mumbai, April 16 (IANS) Capital goods, oil and gas and metal stocks were trading higher Wednesday in early trade at the Indian equities market, which opened with a positive gap tracking strong cues from other Asian markets. The 30-share benchmark index of the Bombay Stock Exchange, the Sensex, opened with a gain of 169.03 points at 16,288.76. Fifteen minutes into trading, it reached 16,364.33 with a gain of 210.67 points or 1.30 percent from Tuesday’s close.

At the same time, the S&P Nifty index of the National Stock Exchange was trading at 4,931.50, with a gain of 51.58 points or 1.06 percent compared to its previous close.

The market breadth was positive with modest volumes. In the initial trade 927 scrips advanced, 111 declined and 8 remained unchanged.

Reliance Energy, Infosys, Wipro and Larsen and Toubro were among the initial gainers.

Other Asian markets were also trading higher. Japan’s Nikkei surged 1.42 percent or 184.04 points to 13,174.62. Hong Kong’s Hang Seng gained 0.84 percent or 201.39 points to 24,102.72. Taiwan’s Taiwan Weighted advanced 0.76 percent or 67.63 points to 8,992.41. Singapore’s Straits Times rose 1.32 percent or 40.48 points to 3,096.97. South Korea’s Seoul Composite was up 0.90 percent or 15.63 points at 1,757.80.

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