Mumbai: Sensex opened remarkably higher in line with smart recovery in most of the blue-chip counters at opening session at the stock exchange following good buying support from foreign funds.

The BSE-30 share sensitive index resumed firm at 5071.20 as against yesterday's (Nov 6) close of 5047.54 and moved in a range between 5092.70 and 5058.60 before being quoted at 5060.76 at 10.30 AM (IST).

Dealers attributed firm opening to positive advises from Wall Street where the Dow Jones Industrial Average and the NASDAQ Composite Index rose by 36.14 points and 17 points last night respectively.

However, profit booking by operators at higher levels trimmed major part of early gains but some of them still quoting marginally higher than overnight close.

Index-based scrips like BHEL, Dr Reddy, Hindalco, HPCL, ICICI Bank, Infosys Tech, L&T, Ranbaxy, RIL, SBI, Tata Motor and Tisco were quoted moderately higher while BSES, GACL, HLL, HDFC, ITC and Satyam Computer displayed marked falls.

Sterlite Ind was the most sought after stocks and hit the upper ten per cent price band on news that the company's newly-floated holding firm, Vedanta Resources, would go for initial public offering on the London Stock Exchange (LSE).

Among major gainers, Hindustan Zinc was quoted higher by 6.20 per cent, Bongaigaon Refinery by 4.66 per cent, Hinduja TMt by 4.16 per cent, SCI by 4.03 per cent, Adani Export by 3.95 per cent, Reliance Capital by 3.93 per cent and GESCO by 3.72 per cent. However, Jaiprakash Ind, I-Flex Sol, ABB, Glaxo, Federal Bank, GACL, UTI Bank and Mphasis BFL showed moderate falls.

PTI