Markets open strong after PM's pep talk | Repo rate cut

HOPE AND JOY: Traders have seen a see-sawing market and are grateful when it opens in green

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Mumbai: Indian equities opened on a positive note on Tuesday with most indices ruling in the green, a day after Prime Minister Manmohan Singh asked investors not to panic as fundamentals of the economy remained strong.

The opening boost in the trading was led by Reliance Industries and Infosys Techonologies, with sentiment underpinned by the Reserve Bank of India lending rate cut and gains in other Asian markets.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 10,428.11 points, against Monday's close at 10,223.09 points, and moved up higher to 10,437.81 points, minutes after the opening bell.

Some half-hour into trading, the key index was ruling at 10,316.89 points, with a gain of 93.80 points, or 0.92 per cent, over the previous close. But for automobiles and healthcare all the 13 sector-specific indices were also in the positive territory.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty index was up 0.8 per cent at 3,125.25.