Sensex opens marginally higher, Nifty nears 11,500

3/3/2008 – MUMBAI: BSE Sensex showing certain indices in Mumbai. Sensex was down 570 points – PTI Photo [Business]

Mumbai, Oct 17 (IANS) Healthy inflow of Foreign Institutional Investment and supportive global markets aided the Indian market to start in the green on Thursday.

The benchmark Sensex opened at 38,647.44, higher from its previous close of 38,598.99.

At 9.58 a.m., the Sensex was up 49.50 points at 38,648.49 while the Nifty50 traded 6 points higher at 11,470.05.

“Going ahead we expect the broader market would witness catch up exercise and outperform the benchmarks in coming sessions, as Nifty has already rallied (400 points) over past six session,” said ICICI Securities.

However growth worries continue to cap gains. IMF had cut India’s GDP growth estimate for India to 6.1 per cent from 7 per cent projected earlier.

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