Mumbai: The SENSEX opened slightly higher and showed signs of recovery as IT and bank stocks tended to moved upwards during morning trading on the Bombay Stock Exchange (BSE) on May 23 on fresh buying support from investors.

The BSE sensitive index opened fractionally up at 3,041.63 as against overnight close of 3,040.79 and later rose to a high at 3,058.05 before being quoted at 3,052.14 at 10.30 am (IST).

Reacting positively to a smart rally on Wall Street on May 22 night, software stocks attempted a moderate recovery during early stages of the session on some institutional support.

Bank shares like SBI, BoB , BoI, Punjab National Bank, Oriental Bank and few others remained in the limelight on sustained purchases by domestic funds. Public sector refinery stocks continued to be in keen demand and were quoted substantially up.

Heavyweights like Infosys Tech, Satyam Computers, ITC, HPCL, Telco and Glaxo were quoted moderately higher.

The Dow Jones industrial average and the NASDAQ composite index on May 22 ended remarkably higher by 77.59 points and 17.68 points respectively.

PTI