The tone was set for an enthralling match when Atletico took the lead inside the opening minute through Sergio Aguero, but Real hit back to take the points through goals from Raul and Wesley Sneijder.

Real kicked off with just three of their eight summer signings in their starting line-up - Dutch duo Royston Drenthe and Sneijder, plus Brazilian centre-back Pepe.

Atletico also had three new faces on show at the outset, with Diego Forlan, Raul Garcia and Simao Sabrosa all making their league debuts for the Rojiblancos.

It was the men in red and white who were quickest into their stride though, taking less than a minute to score the first goal of the match and of the Primera Liga season.

A corner from Mariano Pernia on the right was flicked on at the near post and the unmarked Aguero had the simplest task to nod home at the far post and put Atletico 1-0 up.

That was exactly what Real and their new coach Bernd Schuster would have been desperate to avoid, but it was not to prove critical as the hosts were back on level terms inside 15 minutes.

Real had already gone close a minute earlier through Robinho, who was denied by a good save from Leo Franco, when Sergio Ramos sent over a brilliant cross that was clinically headed home by captain Raul.

That goal seemed to settle Real down and they enjoyed the better of the chances in the remainder of the half.

Robinho fired over from a Ramos cross, before Ramos himself was unfortunate to see his header from Sneijder's corner strike the foot of the post before being hacked behind by the Atletico defence.

Then, from the resulting corner, Leo Franco's punch fell to Sneijder 30 yards out and his first-time left-footed volley only just went wide.

Ruud van Nistelrooy - last season's leading scorer in La Liga - then blazed over for Real while Mahamadou Diarra smashed a great opening wide of the far post just before half-time.

Atletico were not without their chances either, and Maxi Rodriguez, Pernia and Forlan all had sights of goal without being able to take advantage.

The start of the second half continued where the first left off, with both sides looking to attack at every opportunity in what was a hugely entertaining and open derby.

Atletico duo Maniche and Pernia both saw low shots saved by Iker Casillas in the first 10 minutes, while at the other end Sneijder kept trying his luck from distance.

Guti went closer than all of them in the 66th minute when his curling free-kick from the edge of the box struck the underside of the crossbar before bouncing back out.

Van Nistelrooy was just unable to turn home the rebound, and not long after the Dutch striker was denied by Leo Franco when one-on-one as Real started to turn up the heat.

The hosts finally got the breakthrough they were threatening 11 minutes from time through Sneijder.

Having won a free-kick in a position not dissimilar to the one where Guti struck the crossbar, it looked a sure thing that the Real playmaker would try his luck again.

But instead he rolled the ball across the face of the area where Sneijder's 25-yard strike flew into the bottom corner of Leo Franco's net via a slight deflection, sending the Bernabeu wild.

Real's joy appeared to be short-lived as Atletico promptly went down the other end and put the ball in the back of the net, but Diego Forlan's header was ruled out for an offside flag.

Atletico were to have one more chance to snatch a point, with Aguero finding himself clean-through in injury-time after a clever one-two with Forlan on the edge of the Real area.

But the Argentinian youngster's attempted lob over the out-rushing Casillas was blocked by the Real goalkeeper and the champions were able to hold on for the points.