Sensex regains 10k level, climbs 370 pts on firm global cues | business | Hindustan Times
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Sensex regains 10k level, climbs 370 pts on firm global cues

business Updated: Apr 02, 2009 11:27 IST
Sensex regains 10k level

Maintaining its winning-streak for the third straight session, the BSE benchmark Sensex regained 10k level by rising over 370 points in early trade on increased capital inflows by funds, driven by overnight rally on the US markets and firm opening on other Asian bourses.

The Bombay Stock Exchange Sensex, which had gained 333.76 points in the past two sessions, moved up further by 371.98 points, or 3.76 per cent to 10,273.97 points in opening trade with banking, oil and gas, realty and capital goods shares leading the rally.

The wide-based National Stock Exchange’s Nifty also rose by 111.60 points, or 3.55 per cent to 3,172.25.

Stock brokers said overnight rally on the US markets on positive data and firming trends in other Asian bourses mainly buoyed the trading sentiment on the domestic markets.

They said further decline in the inflation rate, slated to be released by noon, too worked as a trigger.

Banking stocks were in good demand on expectations that the Reserve Bank of India may cut rates.

The BSE Bankex moved up by 5.21 per cent to 4,841.99 as stocks like ICICI Bank surged by 6.93 per cent to 373.65, HDFC Bank by 3.83 per cent to Rs 1,035.30 and State Bank of India by 4.20 per cent to Rs 1,119.05.