Indian markets open positive on strong global cues

March 25th, 2008 - 12:25 pm ICT by admin  

A file-photo of Sensex

Mumbai, March 25 (IANS) The Indian equities markets opened Tuesday ahead of their previous close, mirroring the strong showing by other Asian markets. The 30-share benchmark sensitive index of the Bombay Stock Exchange, the Sensex, opened with a positive gap of 329.21 points at 15,612.61.

Within 20 minutes into trading, the Sensex was at over 15,800. All sectoral indices were trading in the black.

The S&P Nifty of the National Stock Exchange opened at 4,616.80 points Tuesday, up by 142.55 points from its previous close.

The BSE midcap index, which had closed in the red Monday, recovered to open in the green at 5,844.05 points, 1.62 percent up.

Similarly, the BSE smallcap index recovered to open at 6,971.92 points or 1.22 percent.

The market breadth was positive, with modest volumes. In the initial trade 1,128 scrips advanced, 655 declined and 42 remained unchanged.

Other Asian markets were trading firmly in the green. Japan’s Nikkei rose 1.33 percent, Hong Kong’s Hang Seng gained 3.32 percent, Singapore’s Straits Times added 1.66 percent, South Korea’s Seoul Composite was up 0.97 percent.

However, Taiwan’s Taiwan Weighted slipped marginally by 0.93 percent.

The US market picked up another triple-digit gain Monday with the Dow Jones gaining 187 points on the day closing at its highest level of this month, the Nasdaq up 68 points.

In the Indian market, Reliance Energy, ICICI Bank, Infosys, HDFC Bank, DLF and Jaiprakash Associates were the top gainers at initial trade.

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