Mumbai: The Sensex opened moderately higher and later rose past 5600-mark during morning trading in line with a selective price rally on the Bombay Stock Exchange today (Oct 26, 2004) on fresh buying support from operators.

However, the market is expected to get resistance in the latter part of the session in view of continued worries over soaring oil prices and fears of a hike in interest rates.

The BSE Benchmark 30-share Index opened firm at 5591.01 as against yesterday's close of 5581.49 and later improved further to a high of 5614.92 before being quoted at 5609.01 at 10.30 am, up by 27.52 points.

Operators were seen making fairly good commitments at the prevailing lower price levels but expected to book profits during the day in reaction to high oil prices that hit new high of $ 55.67 a barrel in New York yesterday.

Brokers said the market would meet a strong resistance if the Reserve Bank of India (RBI) hiked interest rates in its monetary policy to be announced during the day.

Blue chip counters including RIL, Satyam Computers, SBI, Tata Motors, Tata Steel, Zee Telefilms, ONGC, Maruti Udyog, HPCL and ITC were quoted remarkably higher on fresh buying support from investors.

However, L&T, HLL, HDFC, Dr Reddy's Lab and BHEL showed marked falls on sustained selling pressure.