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Sensex gains 31 points in opening trade

Sensex gains 31 points in opening trade Stock markets opened on a positive note on the last trading day of 2014 with the benchmark BSE Sensex rising over 31 points in early trade on selective buying by funds.

The 30-share index rose by 31.16 points, or 0.11 per cent, to 27,434.70 points with stocks of metal, realty, banking, healthcare, oil & gas sectors leading the gains.

The broad-based National Stock Exchange index Nifty rose 14.20 points, or 0.17 per cent, to 8,262.45.

ICICI Bank, Reliance, TCS, Hindalco, Tata Power, Tata Steel and Sesa Sterlite were among major gainers that supported the rise. However, auto stocks led by Mahindra & Mahindra, Bajaj Auto, Maruti Suzuki India and Hero MotoCorp fell upto 1.5 per cent on reports that government may not continue reduced excise duty rates provided to the sector.

Brokers said selective buying in index-related stocks by participants and a firm trend in global markets mainly influenced trading sentiments. During 2014, the Sensex shot up over 29 per cent, while Nifty climbed 31 per cent.

In the Asian region, Hong Kong’s Hang Seng index rose 0.20 per cent, while Shanghai gained 1 per cent in early trade on Wednesday. Japan’s Tokyo Stock Exchange is closed today for a public holiday.

The U.S. Dow Jones Industrial Average closed 0.31 per cent down in Tuesday’s trade.