Sensex opens higher, Tata Motors, SBI gain

Mumbai: The BSE Sensex opened up 180 points on Friday, after indications eurozone officials would soon approve a long-awaited bailout for Greece boosted Asian markets. FIIs have invested nearly $ 4.5 billion in last 44 days. Buying was seen in realty, capital goods, power, consumer durables and banking stocks.

The Sensex was up 180 points or 0.99 per cent at 18334.23, and the Nifty was up 54 points or 0.98 per cent at 5575.95. About 924 shares advanced, 183 shares declined, and 2292 shares remain unchanged.

In the largecap space, Tata Motors, SBI, L&T, M&M, Reliance Power, NTPC, Reliance Infra, BHEL Coal India, Tata Steel and DLF were top gainers.

However, the top losers include Hero Motocorp, ITC and HUL.

Midcap stocks opened on a stable note.

The daily chart on NIFTY suggests that the NIFTY has immediate resistance at 5550. If it breaks 5550/5560 we could see the next key resistance levels of 5640 or even 5703. On the downs side, the NIFTY has found the support at 5460 and 5410 levels.

Asian markets were trading higher with 0.5-1.5 per cent gain. Yesterday the US markets rallied with the Dow and the Nasdaq hitting multi-year highs. Robust economic data and reports suggesting that the ECB would agree to exchange their Greek bonds for new ones boosted sentiment.

The Dow rose by about a percent, its highest closing level since May 2008. The Nasdaq logged its best gains since December, 2000. The S&P 500 meanwhile gained 1 per cent finishing at its highest level in about nine months.

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