Markets trading higher

The market opened firm today, 20 June 2007, as buying continued in index pivotals. Firm global markets also aided the initial rally, taking the BSE 30-share Sensex past the 14,400 mark. The market shrugged off the Securities & Exchange Board of India's warning to 15 brokers and some market participants with regard to manipulation in the futures & options segment.

At 11:21 IST, the Sensex was up 129 points to 14,425.38 while Nifty is trading at 4248.35 up by 35 points.

The follow on public offer (FPO) of ICICI Bank was subscribed 2.74 times on the first day of the FPO on Tuesday, 19 June 2007.

Cement major Gujarat Ambuja Cements advanced 1.95% to Rs 115.20,and was the top gainer among the Sensex pack.ICICI Bank extended gains following strong response to its FPO. It rose 1.67% to Rs 960.15.State-run oil exploration major Oil & Natural Gas Corporation (ONGC) lost 0.55% to Rs 910.

Index heavyweight Reliance Industries (RIL) was up 0.43% to Rs 1734.50, on 93,981 shares. As per reports, global oil giants including Shell, Exxon and Chevron are eying a stake in Reliance Industries’ overseas oil & gas assets. RIL recently hived off these assets into a separate company, Reliance Exploration and Production DMCC.