Market bounces back on global cues, Sensex 94 pts up | business | Hindustan Times
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Market bounces back on global cues, Sensex 94 pts up

business Updated: Apr 20, 2010 10:24 IST

The Bombay Stock Exchange benchmark Sensex recovered by over 94 points in opening trade on Tuesday on emergence of buying by foreign funds and retailers amid firm global cues.

The 30-share index, which lost over 714 points in the previous five trading sessions, rose by 94.36 points, or 0.54 per cent cent to 17,495.04 points.

The National Stock Exchange's Nifty was up 32.75 points, or 0.62 per cent, to 5,236.40 points.

Brokers said overnight gains in the US market and firm opening on other Asian bourses mainly buoyed trading sentiments here.

They said, however, players adopted a cautious approach and kept their commitments selective ahead of the RBI credit policy to be announced later today.

Shares of Tata Consultancy Services, country's top software exporter, traded nearly 2 per cent higher at Rs 831.95 after the company posted a 50.1 per cent rise in net profit to Rs 2,001 crore for the fourth quarter ended March 31, 2010.

Reliance Industries was up 0.66 per cent to Rs 1,069, Reliance Infra was up 0.53 per cent to Rs 1,094.10, Sterlite Industries by 0.65 per cent to Rs 818.45, Hero Honda by 1.38 per cent to Rs 1,923, Maruti Suzuki by 0.51 per cent to Rs 1,338, Tata Motors by 0.84 per cent to Rs 781.95, ICICI Bank by 0.58 per cent to Rs 925.20 and Hindalco was up 0.67 per cent to Rs 179.30.

Meanwhile, Japan's Nikkei was up 0.53 per cent, while Hong Kong's Hang Seng gained 0.71 per in the morning trade today. The US Dow Jones Industrial average ended 0.67 per cent higher yesterday.