Mumbai: Discounting a fresh slide in key oil public sector undertaking (PSU) stocks, the SENSEX opened on a firm note and rallied past 4,300-mark in line with a strong upsurge in it and select old economy heavyweights during morning trading on the Bombay Stock Exchange (BSE) on September 17 on sustained buying interest.

Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) remained under pressure due to the Supreme Court's directive to get Parliament approval for privatisation of the oil majors. Other PSU stocks like STC India, SCI, EIL, Container Corp, ONGC, Dredging Corp, RCF and NALCO too were prominent losers.

However, Infosys Tech, HLL, RIL, Tata Motor, Satyam Comp, Tisco, HCL Tech, Grasim Ind and a few others were quoted sharply up on continuous buying support.

Reflecting the trend, the BSE benchmark 30-share index opened remarkably higher at 4,299.37 as against September 16 close of 4,274.75 and later rose sharply to cross the 4,300-mark to a high at 4,330.85 before being quoted 4,305.90 at 10.30 am (IST).

The selective rally was attributed to heavy purchases by foreign funds at lower levels coupled with buying by operators in select blue-chip stocks.

The sentiment was partly aided by a sharp rally on Wall Street on September 16 night. The Dow Jones Industrial Average jumped by 118.53 points and the NASDAQ Composite Index gained 41.56 on September 16.

Among the top gainers, Sterlite were quoted up by 11.80 per cent, United Phosp by 6.44 per cent, HCL Tech by 6.38 per cent, JB Chem by 6.18 per cent, Sterlite Opt by 5.51 per cent, Torrent Pharma by 4.19 per cent, Shyam Telecom by 3.97 per cent and Wipro by 3.92 per cent.

PTI