New Delhi: Markets opened in green with significant gains on back of strong opening of Sensex stalwarts. Major gainers in the opening trade were Bharti, ACC, HLL, Ranbaxy, Reliance and Rel Comm.
The Sensex, which had lost more than 117 points a day earlier, recovered by 162.25 points, or 1.24 per cent at 12,741.02 in the first five minutes of trading. National Stock Exchange's Nifty was up by 49.10 points, or 1.32 per cent at 3,675.95.05.
Stock-brokers said reports that the Reliance Industries Ltd (RIL) board will meet on March 10 to discuss merger with the Baroda-based Indian Petrochemicals Ltd (IPCL) helped trading sentiments improve.
Reliance stocks were up by Rs 18, or 1.1 per cent higher at Rs 1306.50, while IPCL shot up by Rs 12.55 or 5.6 per cent at Rs 243.
Other contributers to the rise in the Sensex were Reliance Energy, Reliance Capital, Infosys Technologies, TCS, Satyam Computers, State Bank of India, Ranbaxy Lab and ONGC.
Asian Markets
Asian stocks traded mostly higher today, with Japan's Nikkei Average nudging into positive territory as investors bought Inpex Holdings Inc. and other commodity-related issues after crude oil prices rose in US trading.
Taiwan's Taiwan Weighted gained 0.55% or 41.43 points at 7,522.32, Singapore's Straits Times surged 0.28% or 8.43 points at 3,067.58, South Korea's Seoul Composite rose 0.53% or 7.41 points at 1,418.36. However, Japan's Nikkei was down 0.23% or 38 points at 16,726.62.
US Market
The Dow Jones industrial average fell 15.14 points, or 0.12%, to 12,192.45. The Dow traded within a 78-point range Wednesday, a much narrower band than in recent sessions.
Market cues:
- FIIs net sell USD 128.7 million in equity on March 6
- MFs net sell Rs 16.6 crore (Rs 166 million) in equity on March 6
- NSE F&O Open Interest up by Rs 450 crore (Rs 4.50 billion) at Rs 51,661 crore (Rs 516.61 billion)
With inputs from moneycontrol.com
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