Sensex surges 118 points in opening trade on global cues | business | Hindustan Times
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Sensex surges 118 points in opening trade on global cues

business Updated: Mar 17, 2010 10:49 IST

The Bombay Stock Exchange benchmark Sensex shot up by over 118 points, 0.68 per cent, to cross 17,500 points for the first time since January 20 in opening trade today on a flurry of buying by funds driven by rallies in global markets.

The 30-share index, which had gained 218.19 points in the previous volatile session, gained another 118.48 points to
reach 17,501.66 points, the highest level since January 20, with all the sectoral indices trading in the positive.

The wide-based National Stock Exchange index Nifty rose 35.50 points, or 0.68 per cent, to 5,233.60 points.

Brokers said trading sentiments were mainly buoyed by a strong rally on Asian bourses in tandem with overnight gains
in the US markets after the Federal Reserve kept benchmark rates near zero.

They said better quarterly corporate advance tax numbers was another positive factor.

Reliance Industries continued to remain investors' fancy on favourable corporate reports and gathered another 0.81 per
cent at Rs 1,075.40.

Among other prominent gainers Infosys Technologies was up 0.13 per cent to Rs 2,735.90, Tata Consultancy Services by
1.38 per cent to Rs 837.60, Wipro by 1.19 per cent to Rs 736.50, Sterlite Industries by 0.83 per cent to Rs 838 and
State Bank of India by 0.46 per cent to Rs 2,025.40.

The Hong Kong's Hang Seng index was up 0.69 per cent, while Japan's Nikkei by 0.59 per cent. The US Dow Jones
Industrial Average ended 0.41 per cent higher in the previous session.