Sensex gains 132 points in early trade | business | Hindustan Times
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Sensex gains 132 points in early trade

business Updated: Nov 26, 2008 11:20 IST
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The benchmark Sensex on Wednesday rose by over 132 points in opening trade on buying by funds and retail investors, influenced by firm global equity markets after the US Federal Reserve unveiled another raft of financing measures to free up credit markets.

The Bombay Stock Exchange's barometer, which fell by 207.59 points in Tuesday's choppy trade, rose by 132.59 points, or 1.52 per cent to 8,828.12 points in opening trade as shares of heavyweight banking, oil and gas, capital goods and metal sectors gained notably.

The wide-based National Stock Exchange's Nifty gained 35.30 points, or 1.23 per cent at 2,689.30 points.

Marketmen said stocks regained strength following overnight gains in the US markets after the Treasury Department and the Federal Reserve said they have planned to provide USD 800 billion to help unfreeze the market from consumer debt and to make mortgage loans cheaper and more available.

Among major gainers on the BSE were country's most valuable company stocks-- Reliance Industries up by Rs 11 at Rs 1082.70 and ICICI Bank gained Rs 10.15 at Rs 330.10.

Other firm stocks were Larsen and Toubro, BHEL, HDFC Bank, Grasim Industries, HDFC Ltd, Marjuti, Reliance Infra, Rcom, Tata Power and Wipro.

Meanwhile, Wall Street remained strong and the Dow Jones Industrial Average closed 0.43 per cent higher, while London FTSE gained 0.44 per cent on Tuesday.

Among Asian bourses, Hong Kong's Hang Seng index was up by 2.61 per cent but Japan's Nikkei fell 1.22 per cent in early trade on Wednesday.