Mumbai: Share values resumed the New Year on an encouraging note on the Bombay Stock Exchange (BSE) on January 1 following good buying support from operators and retail investors.

Software counters, front-line as well as second-line, were in the forefront on fairly good purchases by speculators.

Petrochemical giant, Reliance Industries Limited (RIL), was also in keen demand following reports that the company has stuck more gas off the South Eastern coast.

The BSE-30 sensitive index opened firm at 3,383.85 from December 31 close of 3,377.28 and moved up further to a high of 3,395.83 before being quoted at 3,385.65 at 10.45 am (IST).

Dealers expect fresh allocations from foreign institutional investors (FIIs) in the New Year in anticipation of good corporate performance and improved economic situation.

The country's gross domestic product (GDP) has grown by a strong 5.8 per cent in the second quarter of 02-03 despite zero growth in agriculture sector.

PTI