Sensex up 105 points in early trade

  • PTI, Mumbai
  • |
  • Updated: May 02, 2012 10:06 IST

Extending gains for the fourth straight session, the BSE benchmark index Sensex on Wednesday rose by another 105 points in early trade on sustained buying by funds and retail investors, amid encouraging fourth quarter corporate earnings and a firming trend in other Asian markets.

The 30-share barometer, which had gained over 188 points in the previous three sessions, was up by 105 points, or 0.61%, at 17,423.81

All sectoral indices, led by FMCG and consumer durables, were trading in the positive zone with gains of up to 1.41%.

The wide-based National Stock Exchange index Nifty moved up by 30.40 points, or 0.58%, to 5,278.55.

Brokers said continued buying by funds and retail investors on the back of better-than-expected fourth quarter earnings by some companies and a firming trend on other Asian bourses, following overnight gains on the US markets on positive manufacturing data, mainly influenced the trading sentiment.

Stocks of FMCG major Hindustan Unilever surged 2.74% to Rs 427.75, after it posted a 20.63% rise in net profit to Rs 686.61 crore for the fourth quarter ended March 31.

In the Asian region, Hong Kong's Hang Seng Index rose by 1.06%, while Japan's Nikkei index up 0.50% in morning trade today. The US Dow Jones Industrial Average ended 0.50% higher in Tuesday's trade.

 

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