Sensex opens firm, up 38 pts

The Sensex added five points over its last close to open at 7,428. Steady to firm gains in select heavyweights propeled the index to a new high of 7,478 in early trades.

While the Sensex has advanced 38 points to 7,461, the Nifty has gained 13 points to 2,279 over its previous close.

ONGC, which signed two JV pact with L N Mittal, has resumed 2% higher (Rs 19) at Rs 954. While ITC has added 1.25% (Rs 20) to Rs 1,664, Reliance is up a notch at Rs 690.

HDFC Bank has added 1.27% (Rs 8) to Rs 657, and SBI is up a per cent (Rs 6) at Rs 727. ICICI Bank is marginally up at Rs 457.

Infosys (up Rs 13 to Rs 2,249) has resumed with steady gains. TCS, Wipro and Satyam have commenced on a flat note at Rs 1,296, Rs 716 and Rs 535, respectively.

Bajaj has tumbled 3.52% (Rs 48) to Rs 1,325. Maruti is up 1.35% (Rs 6) at Rs 468.

While Cipla has gained 1.34% (Rs 5) to Rs 345, Dr. Reddy's has slipped a per cent (Rs 7) to Rs 762.