Mumbai: The SENSEX opened on a promising note and was later trapped in an extremely narrow range in line with a mixed trend at early stages on the Bombay Stock Exchange (BSE) on May 15 on buying support alternated by profit booking by operators.

The BSE sensitive index opened moderately up at 3,422.07 against the previous close of 3,420.33 and later fluctuated in a range between 3,423.70 and 3,420.87 before being quoted at 3,426.67 at 10.45 am (IST).

Operators in the light of another sharp rally on Wall Street quoted key IT stocks like Infosys Technologies and Satyam Computers, which have high weightage in the index, substantially up on fairly good purchases.

Prompted by a powerful combination of upbeat economic data and enthusiasm for a profit improvement in some of the equity market's best and worst-performing sectors, New York stocks rose sharply for the second straight day contributing to a jump in the Nasdaq Composite Index of 66.81 points on May 14 night.

Select old economy stocks like MTNL, ACC and Dr Reddy's Lab also showed moderate gains, while others like Grasim Ind, HLL, HPCL and Zee Telefilms remained under pressure.

PTI