Sensex surges 171 pts in opening trade | business | Hindustan Times
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Sensex surges 171 pts in opening trade

business Updated: Jan 05, 2010 10:42 IST

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The Bombay Stock Exchange benchmark Sensex on Tuesday jumped by over 170 points, or 0.92 per cent, in opening trade on buying by foreign funds, driven by rally on the global bourses after positive US manufacturing data.

The 30-share index rose by 171.05 points to 17,729.78 points. The BSE barometer had gained 94 points to close at a 20-month high of 17,558.73 points on Monday.

The wide-based National Stock Exchange index Nifty rose by 53.30 points, or 1 per cent, to 5,285.50 points.

Brokers said firming trend on the Asian markets following overnight rally in the US markets mainly triggered buying by foreign funds.

Besides, pick up in buying by retail investors and covering-up of short positions by speculators also supported the upside in stock prices, they added.

Among major gainers, Reliance Industries was up by 1.16 per cent to Rs 1,087.80, Reliance Infra by 0.65 per cent to Rs 1,179, Infosys by 0.27 per cent to Rs 2,621.30, Wipro by 0.53 per cent to Rs 697.30, SBI by 0.19 per cent to Rs 2,296, Sterlite by 2.35 per cent to Rs 895.50, Tata Steel by 1.63 per cent to Rs 644.40 and Hindalco by 1.62 per cent to Rs 165.80.

Japan's Nikkei and Hong Kong's Hang Seng were up by almost 1 per cent in the morning trade. The US Dow Jones Industrial Average ended 1.50 per cent higher on Monday.