Sensex up 31 points in opening trade

Extending Wednesday's gain, the Bombay Stock Exchange benchmark index Sensex on Thursday rose by over 31 points on cautious buying by funds ahead of the release of industrial production data.

The 30-share BSE Sensex gathered 31.63 points at 16,881.23 points in opening trade. The Sensex had shot up by 409.04 points yesterday led by IT stocks on firm overseas cues. The wide-based National Stock Exchange index Nifty also gained 6.90 points to trade higher at 5,010.85.

Brokers said pick up in buying by foreign funds on expectations of positive industrial production data to be released later today, mainly influenced trading sentiment.

Major gainers were RCom up by 1.14 per cent to Rs 173.30, ONGC by 0.38 per cent to Rs 1,155, Infosys Technologies by 1.28 per cent to Rs 2,338.30, Wipro by 1.26 per cent to Rs 624 and DLF Ltd by 1.26 per cent to Rs 388.900.

However, metal stocks such as Tata Steel, Sterlite Industries and Hindalco that had surged on the previous trading session came under some pressure and weakened.