Sensex opens 100 points higher, banks gain

Mumbai, May 17 (IANS) The benchmark Sensex opened over 100 points higher on Friday led by gains in the finance and banking stocks.PSU Bank, IT, and pharma stocks witnessed selling pressure.At 10.39 the BSE Sensex traded 197.03 points, or 0.53 per cent higher at 37,590.51. It opened at 37,494.42 after closing at 37,393.48 on Thursday.The Nifty50 of the National Stock Exchange (NSE) opened at 11,261.90 after closing at 11,257.10 on Thursday. It traded at 11,307.35 during the morning trade session, up 50.25 points and 0.45 per cent.Brent Crude traded above the $72 a barrel mark amid rising tension in the Middle East that could lead to supply disruptions.Investors will take cues from the fourth quarter earning results of Bajaj Auto and Indian Oil Corporation scheduled later in the day.
--IANS ravi/in