Sensex opens higher on back of Nasdaq
MumbaiThe stockmarkets opened on a positive note, helped by Nasdaq's overnight gains as well as positive news from the auto sector.
At 10:30 am, the sensex was at 3,298.35, up 0.59 per cent.
The Nifty gained 0.41 per cent at 1,068.1.Zee Tele took the lead in early deals, other tech scrips made gains as well.
Auto counters saw some activity, boosted by from data released by the Society of Indian Automobile Manufacturers which showed nationwide sales of trucks and cars rose marginally in July over the year-ago period.
Hero Honda gained 2.36 per cent, Ashok Leyland was up 0.24 per cent, while M&M and Bajaj Auto gained 0.74 and 0.2 per cent respectively.
Telco was an exception, losing 1.1 per cent in early deals. Credit rating agency Icra downgraded Telco's non-convertible debentures from LAA to LAA-.
Parma scrips were mostly up. Dr Reddy's was up 1.66 per cent, while Cipla gained 1.63 per cent. Glaxo was up 1.44 per cent.
DSQ Software added 2.6 per cent on the NSE. The scrip has been seeing brisk volumes since it resumed trading on the NSE from Friday.
HCL Infosystems gained 9.2 per cent following news that its board recommended a dividend of Rs 7.0 per share for the year to June 30 late on Monday.
Indian Oil Corporation lost 0.7 per cent on news its plan of acquiring a stake in Haldia Petrochemicals had hit a roadblock.
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Balaji Tele, Mukta Arts volumes down
MumbaiBalaji Telefilms and Mukta Arts trading volumes dipped on the first day after the introduction of trade-to-trade (TTT) from Monday August 20. Both counters had been witnessing large volumes since the beginning of the month.

On Monday, volumes fell sharply as dealers had no provision of netting in case of weekly settlement. The provision of trade-to-trade came into effect from Monday following huge trading volumes witnessed in the two media stocks.

In Balaji Telefilms, a total of 7.94 lakh shares were traded on the National Stock Exchange (NSE) and on Bombay Stock Exchange, (BSE) 2.30 lakh shares were traded, lower than the average volume of around 40-50 lakh each on the NSE and BSE since August.

Similarly, on the Mukta Arts counter, 1.53 lakh shares were traded on the the NSE and just 51,739 shares on the BSE, much lower that the average of around 20 lakh shares each in these counters. Despite this, there was not much change in their stock prices. Balaji Telefilms stock closed at Rs 189.50 on the BSE, down 3.64 per cent and on the NSE it closed at Rs 190. While Mukta Arts stock was down 5.91 per cent at Rs 82 on the BSE, it was down 4.22 per cent at Rs 85.15 on the NSE.
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UTI to launch other options for non US-64 investors
ChennaiThe Unit Trust of India (UTI) will soon come out with suitable options, such as an income option, for those who had invested in its various schemes other than the troubled US-64 scheme.
UTI is also considering re-opening the US-64 sales window by the end of this year. UTI chairman M Damodaran declined to provide further details on these initiatives.

Addressing a press conference here, Mr Damodaran said going beyond US-64, UTI is planning to further strengthen and refurbish all its other schemes, besides planning a few add-ons to its existing ones. He said UTI had plans underway to provide existing investors with the option of switching from one scheme to another, and also offering income options for thistle schemes currently not offering this facility, he added.

He said the Trust is likely to re-open the US-64 sales window by January next year.
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