Oil, gas, banking and metal stocks in demand in early tradeApril 25th, 2008 - 12:07 pm ICT by admin
Mumbai, April 25 (IANS) The Indian equities market opened in green Friday mirroring strong Asian markets, which were running higher. Oil and gas, metal and banking stocks were in demand in the initial trade. The 30-share benchmark sensitive index of the Bombay Stock Exchange (BSE) opened 16,781.97. Ten minutes into trade, the Sensex was trading at 16,865.15 with a gain of 145 points or 0.86 percent.
At the same time, S&P Nifty of the National Stock Exchange was trading at 5,040.90 points with a gain of 41.05 points or 0.82 percent compared to its previous close.
The market breadth was positive. On BSE, 601 scrips advanced, 121 declined and 11 remained unchanged.
Bharti Airtel, Satyam, ICICI Bank Ltd were the gainers while Ambuja Cements, ACC Ltd were the losers at initial trade.
Asian markets were trading firm. Japan’s Nikkei gained two percent or 271.03 points at 13,811.90.
Taiwan’s Taiwan Weighted rose 0.25 percent or 22.73 points at 9,013.06. Singapore’s Straits Times was up 0.02 percent or 0.54 points at 3,178.09. South Korea’s Seoul Composite advanced 1.06 percent or 19.01 points at 1,818.35. However, Hong Kong’s Hang Seng slipped 0.55 percent or 139.97 points at 25,540.81.