Market opens on positive noteFebruary 18th, 2008 - 1:31 pm ICT by admin
Mumbai, Feb 18 (IANS) The Indian stock market Monday opened on a positive note, boosted by Reliance Power’s offer of a bonus issue for shareholders but it was not able to sustain the lead and soon dropped to a lower level. The 30-share benchmark sensitive index (Sensex) opened with a gain of 112.96 points at 18,228.21. Nearly 20 minutes into the trade, it was trading at 18,139.79.
The S&P Nifty opened at 5,304.45, up by 1.55 points.
The cues from Asian markets were mixed, with Hang Seng and Strait Times in red and Shanghai in green.
The market breadth was positive in initial trade.
Wipro, Reliance Energy, Reliance Communications, HDFC bank, Larsen and Toubro and National Thermal Power Corp (NTPC) were among the gainers. The Oil and Natural Gas Corp (ONGC), Unitech, Sterlite and Tata Communication lagged behind.