Local train services disrupted, 20 motormen dismissed

STAFF WRITER 9:16 HRS IST

Mumbai, May 5 (PTI) Suburban train services in Mumbai continued to be disrupted today on the second day of motormen's strike even as 20 motormen were dismissed for refusing to report for work.

"Ten motormen of Central and Western railway each have been dismissed as they refused to work," railway officials said here.

The western and eastern express highway also continued to be jammed with commuters opting for road transport to reach their destinations.

Railway authorities today said only 20 per cent suburban trains were operating as a result of the hunger strike by motormen demanding hike in pay scales and allowances.

Maharashtra Home Minister R R Patil said the state government will take up the issue with the Centre, seeking its intervention to provide relief to Mumbai commuters.

The state government is also reviewing if provisions of Essential Services Maintenance Act (ESMA) could be invoked in this case, he said.

Sensex recovers 79 pts in opening trade on funds buying

STAFF WRITER 9:28 HRS IST

Mumbai, May 4 (PTI) The Bombay Stock Exchange benchmark Sensex recovered by nearly 79 points in opening trade today on fresh capital inflows by foreign funds.

The 30-share index, which had lost 172.63 points in the previous trading session, rose by 78.74 points, or 0.45 per cent to 17,464.82 points.

The wide-based National Stock Exchange's Nifty also moved up by 27.40 points, or 0.52 per cent, to 5,250.15 points.

Brokers said fresh buying by foreign funds on the back of overnight gains in the US market mainly buoyed the trading sentiment here.

Besides, steady inflow of encouraging quarter earnings by companies also generated buying activity, they added.

Among major gainers, Jaiprakash Associates was up 1.59 per cent to Rs 146.80, Infosys Technologies 0.13 per cent to Rs 2,698.05, Wipro 0.23 per cent to Rs 676.25, Tata Consultancy Services 0.47 per cent to Rs 770.60, Mahindra and Mahindra 0.

Asian markets mixed in morning trades

Asian markets are trading mixed this morning, in spite of cues from the US markets.

The Hang Seng has added 136 points to 20,947.

The Seoul Composite and the Taiwan Weighted are flat at 1,723 and 7,955, respectively.

However, the Straits Times has dropped 28 points (1%) to 2,916. The Shanghai Composite is down 15 points at 2,855

Markets open in green on US cues

Markets opened on a positive note this morning, taking cues from the US markets, even as Asian peers trade mixed.

The Sensex opened flat at 17,371. The index thereafter touched a high of 17,465 and is now up 45 poinst at 17,431.

The Nifty is up 17 points at 5,239.

US markets ended in green on Monday as hopes of a financial recovery strenghtened as Europe introduced a rescue package for Greece. The Dow added 143 points (1.3%) to 11,151. The Nasdaq jumped 38 points (1.5%) to 2,498. The S&P 500 advanced 16 points (1.3%) to 1,202.

Asian markets are trading mixed this morning, in spite of cues from the US markets. The Hang Seng has added 136 points to 20,947. However, the Straits Times has dropped 28 points (1%) to 2,916.

BSE healthcare and realty indices have added 0.6% to 5,376 and 3,473, respectively. Auto and metal have also advanced in trades today.

Most of the stocks in the Sensex are tading flat with a positive bias.

Jaiparaksh Asoociates has gained 1.5% at Rs 146.

ACC and Hindustan Unilever have added 0.8% each to Rs 911 and Rs 236, respectively.

HDFC, Reliance Communications, Maruti and ICICI Bank are marginally up.

However, Hindalco has dropped 0.4% to Rs 172.