Mumbai: The Sensex opened moderately higher and later improved further, even as the market continued to witness scrip-specific activity during morning trading on the Bombay Stock Exchange (BSE) today (Dec 3, 2003).

The BSE 30-share sensitive index opened up at 5,198.74 as against yesterday's close of 4,186.08 and later rose to a high at 5,209.94 before being quoted at 5,204.21 at 10.30 hrs (IST).

Activity was confined to select blue-chip counters, with RIL in the forefront in response to overnight heavy fund buying in the scrip.

Reacting positively to hefty net investments of Rs 563 crore by Foreign Institutional Investors (FIIs) on December 1, investors, particularly operators continued their buying in select key old economy stocks, market sources said.

FIIs are expected to pump in funds in the Indian markets in view of strong economic fundamentals, sources added.

ACC, GACL, Grasim, Bajaj Auto, HDFC, HDFC Bank, HPCL, HLL, ICICI Bank, L&T, ONGC, SBI and Zee Telefilms were quoted remarkably higher on fresh buying support.

However, Infosys Tech, Dr Reddy's Lab and Cipla showed moderate losses on selling pressure.

UTI Bank rallied smartly on news that HSBC has picked up 20 per cent stake in the Bank.

Among the top gainers, Alstom Power were quoted up by 6.94 per cent, IDBI Bank by 5.81 per cent, Guj Mineral by 4.51 per cent, Rolta by 4.40 per cent, GTL by 3.95 per cent, Tata Elxsi by 3.87 per cent, Alfalaval by 3.79 per cent and Indoram by 3.56 per cent.

PTI