By IANS
Mumbai : The Indian equities market opened on a positive note Tuesday on cues from strong global markets, pulling the much-discussed Reliance Power stock up with it.
The 30-share benchmark sensitive index opened with a gain of 181.73 points at 16,812.63. With 30 minutes into the trade, the Sensex was at 16,729.91 with a gain of nearly 100 points.
The S&P Nifty opened at 4,877.85, up by 1.90 points.
Reliance Power bounced back to Rs.393 per share Tuesday morning. Unitech, RPL, ICICI Bank, Reliance Energy, Reliance, Cipla, GAIL, Satyam Computer, VSNL, Idea, Zee, HUL, SBI, TCS and Infosys were among the top gainers.
Monday’s sharp decline at India’s bourses pulled Reliance Power down on its debut listing.
J. Kumar Infraprojects (JKIL) debuted at the bourses Tuesday at Rs.100 on the Bombay Stock Exchange (BSE), a discount of 9.09 percent over its IPO price. The stock hit a high and low of Rs.116.95 and Rs.84.20 in the early hours of trading.
The company had fixed its IPO price at Rs.110, at the lower end of the price band of Rs.110-120. J. Kumar Infraprojects IPO was subscribed 2.17 times. The qualified institutional buyers (QIBs) category was subscribed 2.80 times, the non-institutional investors portion was subscribed 1.39 times.
Most Asian markets were trading higher. Hong Kong’s Hang Seng gained 2.17 percent, Singapore’s Straits Times surged 1.23 percent, Japan’s Nikkei was up 0.12 percent, South Korea’s Seoul Composite rose 0.44 percent. However, Taiwan’s market slipped 1.47 percent.