Sensex gains 203 pts in opening trade on global cues
The Bombay Stock Exchange benchmark Sensex on Thursday surged by 203 points, or 1.05 per cent, in opening trade on fresh buying by funds, driven by rally on the global bourses.business Updated: Jan 28, 2010 10:36 IST
The Bombay Stock Exchange benchmark Sensex on Thursday surged by 203 points, or 1.05 per cent, in opening trade on fresh buying by funds, driven by rally on the global bourses.
The 30-share index rose by 203.21 points to 16,493.03 points. The BSE barometer had lost over 1,351 points, or almost 7.7 per cent in the previous six trading sessions.
The wide-based National Stock Exchange index Nifty rose by 59.25 points, or 1.22 per cent to 4,912.35 points.
Brokers said firming trend on the Asian markets following overnight rally in the US markets mainly triggered buying by foreign funds.
Besides, buying by retail investors and covering-up of short positions by speculators also supported the stock prices, they added.
Among major gainers, Reliance Industries was up by 1.20 per cent to Rs 1,038.20, Infosys by 1.21 per cent to Rs 2,528.65, Wipro by 2.10 per cent to Rs 668.25, TCS by 1.45 per cent to Rs 754.25, DLF Ltd by 1.86 per cent to Rs 322.95 and State Bank of India by 0.96 per cent to Rs 2,006.30.
Tata Steel stocks shot up by 2.67 per cent to Rs 573.60 on speculative buying ahead of December quarter results.
Japan's Nikkei was up by 1.31 per cent, while Hong Kong's Hang Seng edged higher by almost 1.7 per cent in the morning trade. The US Dow Jones Industrial Average ended 0.40 per cent higher yesterday.