Sensex up 400 points; banking, finance stocks rise

Mumbai, Feb 24 The key Indian equity indices opened on a positive note on Wednesday, with the BSE Sensex gaining around 400 points.

Around 10.10 a.m., Sensex was trading at 50,149.60, higher by 398.19 points or 0.80 per cent from its previous close of 49,751.41.

It opened at 49,763.94 and has touched an intraday high of 50,162.21 and a low of 49,736.97 points.

The Nifty50 on the National Stock Exchange was trading at 14,795.60, higher by 119.90 points or 0.82 per cent from its previous close.

Healthy buying was witnessed in banking, finance and capital goods stocks.

Manish Hathiramani, technical analyst, Deen Dayal Investments said: "The Index is trying hard to hold on to the 14,700 level. If we manage to keep below it, the Nifty could slide down to 14,500 and thereafter 14,300.

"On the upside there is a resistance patch at 15,000-15,100 and until that is not crossed, we remain bearish in the short term."

( With inputs from IANS )