Mumbai: The Sensex opened moderately up and later witnessed irregular movements during morning trading on the Stock Exchange in Mumbai today (Dec 3, 2004) on fresh buying support.

The market however is expected to get a correction as traders and operators are likely to booked profits at the higher price levels during the latter part of the session.

The BSE Benchmark 30-share Index opened up at 6348.32 as against yesterday's (Dec 2, 2004) close of 6328.43 and later fluctuated irregularly in a range of 6360.27 and 6304.22 before being quoted at 6335.39 at 10.30 hrs (IST), up by 6.96 points.

Refinery stocks remained in the forefront on fresh buying support prompted by a sharp fall in world oil prices. Crude oil prices plummeted to a near three-month low at $43.25 a barrel, the lowest finish since September 10.

Foreign Institutional Investors (FIIs) reported net investments of Rs 332.10 crore on Wednesday.

However, software stocks remained under pressure due to the appreciating rupee, which, in turn, will affect the sector's earnings, brokers said.

HPCL, ONGC, IOC, IBP, MRPL, BPCL, ICICI Bank, ITC, L&T, Maruti Udyog, Tata Motors, Bajaj Auto, Hero Honda, BHEL, ACC, and few others were quoted remarkably higher.

Infosys Technologies, Satyam Computers and Wipro recorded a sharp fall on fresh selling pressure.