Mumbai: The SENSEX opened firm and moved in a narrow range at opening session on the Bombay Stock Exchange (BSE) on August 18 on selective but cautious buying by operators.

Steel counters remained in limelight on sustained buying by operators and institutional investors on reports of considering another price hike.

Tisco, Jindal Steel, SAIL and some second-line steel counters like Jindal Vijaynagar, Ispat Ind, Essar Steel and Lloyd Steel moved up further.

The BSE-30 share Sensitive Index resumed higher at 3932.37 as against August 14 close of 3921.20 and was trapped in a limited breadth of 3943.60.15 and 3931.49 before being quoted at 3936.92 at 10.30 hours (IST).

Operators were cautious just ahead of no confidence motion in the Lok Sabha on August 18 but denied any major impact, terming it just a political move, dealers said.

Fast moving consumer goods giant, Hindustan Lever Limited (HLL) attracted heavy buying from institutional investors on expectation of better prospects for the company due to good monsoons and improved projections of GDP growth current year.

Besides steel scrips other Index-based shares such as BHEL, BSES, Bajaj Auto, Dr Reddy, Grasim, ACC, L&T, Hindalco, MTNL, Ranbaxy, Infosys Tech and ITC were quoted higher.

PTI