Sensex up 110 pts in opening trade on firm global cues
Continuing its upward trend for the second straight day, the BSE benchmark Sensex rose today by another 110 points to touch 9,114 points in opening trade on increased capital inflows by funds.business Updated: Jan 29, 2009 00:14 IST
Continuing its upward trend for the second straight day on Wednesday, the Bombay Stock Exchange benchmark Sensex rose on Wednesday by another 110 points in opening trade on increased capital inflows by funds, driven by firming trends in global equity markets.
The 30-share index which had gained 329.73 in the previous session, gathered another 110.50 points, or 1.22 per cent to 9,114.58 in opening trade as all the sectoral indices were trading in positive zone with gains up to 1.75 per cent.
Similarly, the broader National Stock Exchange Nifty, rose by 33.20 points at 2,804.55 in opening trade.
Marketmen said overnight gains on the US markets and firming trend in other Asian stock markets, triggered buying on the domestic bourses.
Encouraging third quarter earnings announced by some blue-chip companies also boosted investors.
They said a rise of up to three per cent in Indian companies ADRs on the US markets also influenced the trading sentiments.
Major gainers which supported the Sensex were Reliance Industries by 1.25 per cent to Rs 1,250,State Bank of India by 0.66 per cent to Rs 1,095.75, ICICI Bank by 1.74 per cent at Rs 388, Infosys Technogies by 0.43 per cent to Rs 1,258, Tata consultancy by 1.25 per cent to Rs 1,242, Larsen and Toubro by 0.63 per cent to Rs 642.20, BHEL by 0.82 per cent to Rs 1392.
However, Tata Steel stocks were under pressure ahead of quarterly results and traded 1.33 per cent down at Rs 170.
Meanwhile, the US Dow Jones Industrial Average closed 0.72 per cent higher on Tuesday, while Japan's Nikkei moved up one per cent in early trade on Wednesday.