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Sensex, Nifty rise in opening trade

Sensex, Nifty rise in opening trade

Moves were minor across the region, with blue chip Chinese shares off 0.2 per cent and Australia up 0.1 per cent. Japan's Nikkei was likewise steady, after the index scored its highest close in 25 years on Monday.

The Sensex opened strong at 33,317.72 and touched a high of 33,535.97, but settled at 33,455.79 due to profit-booking, still showing a gain of 205.49 points, or 0.62 per cent.

Wall Street had been led higher by technology and energy stocks, with Apple Inc making the biggest contribution. On Friday, markets ended on a positive note.

Losses in oil marketers such as HPCL, BPCL and International Olympic Committee stocks too weighed.

In the broader markets, the S&P BSE mid-cap index closed higher by 0.36 per cent and the small-cap index by 0.22 per cent. "With pre-Budget talks under way, markets are also weighing the likelihood of the government levying taxes on long-term capital gains", said Anand James, Chief Market Strategist, Geojit Financial Services. The Sensex jumped 301 points or 0.91% to 33,250.30 while the wider Nifty zoomed to 98 points or 0.97% to 10,265.65.

Provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 185.60 crore while DIIs bought stocks worth Rs 108.94 crore. On the other hand, realty index fell the most by 1.03 per cent, followed by power 1.02 per cent, banking 0.85 per cent and FMCG 0.76 per cent.

Major Sensex losers were: NTPC, down 1.36 per cent at Rs 177.50; ONGC, down 0.78 per cent at Rs 178.90; Reliance Industries, down 0.55 per cent at Rs 915.90; Hindustan Unilever, down 0.48 per cent at Rs 1,320.35; and Adani Ports, down 0.42 per cent at Rs 390.95.

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