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Market opens with a positive bias
June, 16th 2008

Markets have started off with a positive bias on back of firm cues from the international equity markets. Among the 30-scrips of 29 stocks are in green and 1 stock is in negative terrain. Frontrunners like ICICI Bank, Reliance Industries, Infosys and HDFC are among the major gainers. While, Tata Motors is the only laggard. At 10:00 am (IST), the BSE 30-share Sensex gained 326 points at 15,516 and NSE Nifty was up 89 points at 4,605.

Asian stocks rose for a second day, led by automakers and technology companies, as the yen weakened against the dollar and crude oil prices retreated.

The MSCI Asia Pacific Index added 0.5% to 141.32 as of 9:33 a.m. in Tokyo, rebounding from its largest weekly drop in 10 months. More than two stocks advanced for each that retreated among the benchmark's 991 members.

Japan's Nikkei 225 Stock Average added 1.2% to 14,140.21, extending its June 13 gain of 0.6%. Indexes advanced in other Asian markets open for trading, except for Australia which was little changed.

US stocks rallied on Friday, with a stronger dollar and weaker oil prices giving investors a reason to snap up some recently beaten-down shares. The Dow Jones Industrial Average gained 1.4%, while the broader Standard & Poor's 500 index gained 1.5% and the Nasdaq Composite climbed 2.1%.

US shares rose modestly at the open but picked up pace later on, despite a report showing a big jump in consumer inflation. Investors took advantage of some lower stock prices, following a tough period on Wall Street.

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