Sensex up 53 points in early trade on global cues
The Bombay Stock Exchange, which had gained over 407 points in the last two sessions, added 53.21 points, or 0.29 per cent, at 17,988.89, the highest level since February 2008.business Updated: Apr 06, 2010 11:00 IST
Continuing its winning-streak for the third straight session, the Bombay Stock Exchange on Tuesday shot up by another 53 points in early trade on increased capital inflows by foreign funds amid hopes of strong fourth quarter corporate earnings.
The Sensex, which had gained over 407 points in the last two sessions, added 53.21 points, or 0.29 per cent, at 17,988.89, the highest level since February 2008.
Similarly, the wide-based National Stock Exchange Nifty index rose by 20.25 points, or 0.37 per cent, to 5,388.65.
Overnight gains in the US market on positive data mainly buoyed trading sentiment in Mumbai, brokers said.
Besides, expectations of good Q4 earnings of blue-chip companies, also supported the uptrend in the stock prices, they added.
Reliance Industries remained in the limelight and gathered another 2.50 per cent to Rs 1,121, while Reliance Infra spurted by 5.30 per cent to Rs 1,069.50 on sustained buying activity.
Among other gainers, Tata Power was up by 3.14 per cent to Rs 1,397.85, Tata Steel 3.49 per cent to Rs 675, DLF Ltd 4.13 per cent to Rs 324, Hero Honda 4.73 per cent to Rs 2,040, Maruti Suzuki 0.47 per cent to Rs 1,397.20, Mahindra and Mahindra 2.02 per cent to Rs 544.60 and ICICI Bank by 4.09 per cent to Rs 992.
The US Dow Jones Industrial Average ended 0.42 per cent higher in yesterday's trading.