Indian stock market opens with decent gains


Mumbai : The Indian capital market opened on a strong note Wednesday in alignment with global peers.

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Just minutes after the opening bell, the benchmark sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was posting a gain of 97.39 points or 0.51 percent at 19,225.12.

The broader S&P CNX Nifty of the National Stock Exchange (NSE) advanced 35.95 points or 0.48 percent to 5,734.

The broader indices continue to outperform the benchmark index. The BSE mid-cap index was posting a gain of 94.48 points or 1.13 percent at 8,487.97 and the BSE small-cap index moved up 132.33 points or 1.28 percent at 10,504.40.

“The market is likely to remain volatile ahead of expiry of derivative series and mixed global cues at the end of November,” said Amit Sharma, derivative analyst with Religare.

All other Asian markets were trading feeble. Hong Kong’s Hang Seng tumbled 0.65 percent or 176.35 points to 27,033.86, Japan’s Nikkei plunged 0.29 percent or 43.40 points to 15,179.45, Taiwan’s Taiwan Weighted was down 0.22 percent or 18.81 points to 8,356.95, Singapore’s Straits Times declined 0.12 percent or 4.02 points to 3,368.62 and South Korea’s Seoul Composite dropped 0.16 percent or 3.05 points to 1,856.74.

The Indian American depository receipts (ADRs) trading on US bourses ended higher. VSNL rose 8.36 percent while HDFC Bank, MTNL, ICICI Bank, Rediff, Patni Computer and Tata Motors gained 2-6 percent each.

Dr Reddy’s was the only loser amongst the ADRs, declining by 0.71 percent.

The top gainers on the Sensex were NTPC, which advanced 2.66 percent to Rs.241.20, Bajaj Auto gained 2.15 percent to Rs.2,710 and BHEL moved up 2.13 percent to Rs.2,730.

The top losers on the Sensex were TCS, down by 0.99 percent to Rs.986.95, DLF Ltd declined 0.89 percent to Rs.890 and Hindalco lost 0.84 percent to Rs.189.75.