Sensex surges 153 points in early trade
xchange benchmark Sensex shot up by 153 points early trade after a rally in metal, realty and IT stocks on hopes of strong quarter corporate earnings and firming global trend.business Updated: Jul 12, 2010 10:25 IST
The Bombay Stock Exchange benchmark Sensex shot up by 153 points early trade after a rally in metal, realty and IT stocks on hopes of strong quarter corporate earnings and firming global trend.
The 30-share index, which had gained over 362 points in the previous two sessions, gained another 153.29 points, or 0.86 per cent, at 17,986.83 points.
The broad-based National Stock Exchange index Nifty gained 40.65 points, or 0.75 per cent, to 5,393.10.
Brokers said buying by funds and retail investors on hopes that corporates may post encouraging quarter earnings and firming trend on the other Asian bourses mainly kept trading sentiments upbeat.
Besides, progress of monsoon rains too boost market sentiments, they said.
IT bellwether Infosys Technologies shot up by 0.98 per cent to Rs 2,900 ahead of quarter results, while most-weighted Reliance Industries gained 0.61 per cent to Rs 1,062.25.
Among other gainers, Tata Steel rose by 1.60 per cent to Rs 503.85, Sterlite Industries by 1.91 per cent to Rs 170.75, DLF Ltd by 2.22 per cent to Rs 302.25, Larsen and Toubro by 0.74 per cent to Rs 1,832.50, State Bank of India by 0.69 per cent to Rs 2,385.20 and Wipro by 1.19 per cent to Rs 405.20. Hong Kong's Hang Seng Index was up 0.76 per cent, while Japanese Nikkei gained 0.35 per cent in morning trade.