Sensex regains 10k level; up 238 points in opening trade

Mumbai, Oct 20 (PTI) Snapping its three-session falling
streak, the benchmark Sensex Monday regained the 10k level and
gained over 238 points in opening trade on revival of buying
by funds, triggered by firming Asian stock markets.

The 30-share index, which had lost nearly 1,510 points in
the past three sessions, recovered by 238.29 points, or nearly
2.3 percent, at 10,213.64 points on renewed buying in the
stocks of banking, capital goods and realty sectors.

The wide-based National Stock Exchange's Nifty rose by
663.20 points, or nearly 2.1 percent, at 3,137.55 points.

Marketmen said firming trends at other Asian stock
markets and improving liquidity conditions after the
government and R.B.I. announced a series of measures,
including a 250 basis points cut in C.R.R. to release Rs
1,00,000 crore into the financial system, mainly influenced
the sentiments here.

Covering up of short positions by speculators in view of
some improvement in the behaviour of market also supported the
recovery trend in stock prices, they said.

Capital goods stocks such as Larsen and Toubro were up by
1.50 per cent at Rs 811, while state-run BHEL gained 0.35
percent at Rs 1,199.

IT majors Infosys Technologies rose by three per cent
at Rs 1,240, Satyam Computers up by 4.79 percent at Rs
278.70, Wipro gained 5.09 per cent at Rs 270.70 and Tata
Consultancy appreciated by 2.85 percent at Rs 467.10.

Other gainers were HDFC Bank, HDFC Ltd, DLF Ltd, ONGC,
Reliance Infra, RCom and Tata Motors.

However, shares of R.I.L. were down by 1.17 percent at Rs
1,290, while Reliance Petroleum was trading lower at Rs 97.

Meanwhile, Hong Kong's Hang Seng index was up 2.2
percent, while Japan's Nikkei gained 2.33 percent in early
trade. PTI SUN
BDS