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Market opens strong; Bank, metal surge

Apr 28, 2008 11:21 AM IST Business Business
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New Delhi: The markets have opened with strong gain and trading with modest gain. Bank, Teck, metal, stocks witnessing buying interest. ICICI Bank was up 8 per cent.

At 0956 hrs, IST the Sensex was up 145.58 points or 0.85 per cent at 17271.56, and the Nifty was up 9.15 points or 0.18 per cent at 5120.85.

About 1482 shares have advanced, 1388 shares declined, and 208 shares are unchanged.

Reliance Petroleum, Idea Cellular, HCL Technolofies, HDFC Bank were among major gainers.

Siemens, Sun Pharma were among major losers.

US market ended mixed. The Dow gained 43 points to close at 12,892 and the NASDAQ shut 6 points lower at 2,422. The S&P 500 closed almost 9 points higher at 1,397. On Friday leading the surge among financials was Fannie Mae and Freddie Mac.

Asian markets were trading firm. Japan's Nikkei advanced 0.75% or 104.63 points at 13,968.10. Hong Kong's Hang Seng 0.70% or 177.89 points at 25,694.67. Taiwan's Taiwan Weighted rose 0.415 or 36.87 points at 8,984.70. Singapore's Straits Times was up 0.62% or 19.71 points at 3,208.91. South Korea's Seoul Composite added 0.19% or 3.40 points at 1,828.08.

Market cues:

* FIIs net buy $130.4 mn in equity
* MFs net buy Rs 33.1 cr in equity
* NSE F&O Open Interest up by Rs 4,921 crore at Rs 5,4172 cror

F&O cues:

* Stock Futures add 6.5 cr shares in Open Interest on day 1 of new series
* Futures Open Interest up by Rs 2,983 crore and Options Open Interest up by Rs 1938 crore
* Nifty Futures add 11.7 lakh shares in Open Interest, at 14-point premium
* Nifty Open Interest Put-Call ratio at 1.40 Vs 1.39
* Nifty Puts add 18.5 lakh shares in Open Interest
* Nifty Calls add 12.6 lakh shares in Open Interest
* Nifty 5000 Put adds 4.5 lakh shares in Open Interest
* Nifty 4900 Put adds 4.4 lakh shares in Open Interest
* Nifty 5000 Call adds 2.4 lakh shares in Open Interest