Markets trading higher in line with its Asian peersApril 17th, 2008 - 12:49 pm ICT by admin
Mumbai, April 17 (IANS) The Indian equities market was trading higher in initial trade, tracking strong cues from Asian markets. The gaining rally in the early trade was led by metal, realty and IT stocks. The 30-share benchmark sensitive index of the Bombay Stock Exchange opened with a gain of 90.35 points at 16,288.76. Ten minutes into trade, the Sensex was trading at 16,486.98 with a gain of 242.79 points or 1.49 percent.
At the same time, the S&P Nifty of the National Stock Exchange was trading at 4,948.90 with a gain of nearly 62 points or 1.26 percent compared to its previous close.
The market breadth was positive with modest volumes. In the initial trade, 993 scrips advanced, 112 declined and 17 remained unchanged.
Satyam Computer, Infosys, Wipro and ICICI bank were initial gainers at the morning trade.
Asian markets were trading higher. Japan’s Nikkei advanced 2.33 percent or 306.10 points at 13,452.23. Hong Kong’s Hang Seng rose 1.69 percent or 402.41 points at 24,280.76. Taiwan’s Taiwan Weighted added 0.67 percent or 60.09 points at 9,127.13. Singapore’s Straits Times surged 1.80 percent or 55.58 points at 3,143.07. South Korea’s Seoul Composite gained 1.13 percent or 19.87 points at 1,778.43.