Sensex gains 55 pts in opening trade

Mumbai: Bombay Stock Exchange benchmark Sensex today opened almost 55 points higher than its previous close on emergence of select buying by funds and retail investors amid a firming trend on other Asian bourses.

The 30-share barometer, which last Friday slipped 310.04 points on inflation worries and disappointing quarterly results by IT bellwether Infosys, gained by 54.79 points, or 0.28 per cent to 19,441.61 points in early trading today.

Stocks of auto, metals, banking, capital goods and, oil and gas sector led to the marginal recovery.

The wide-based National Stock Exchange Nifty index also swung by 13.55 points, or 0.23 per cent to 5,838.10 level.

Brokers said selective buying by funds and investors of stocks with strong fundamentals along with a firming trend on other Asian bourses buoyed the trading sentiment at home.

In East Asia, Hong Kong`s Hang Seng index and Japan`s Nikkei today opened 0.10 per cent and 0.05 per cent higher, respectively. Meanwhile, the US Dow Jones Industrial Average had ended 0.46 per cent higher on Friday.