Market remains firm on interest rate cut expectation; 88 pts up

The Bombay Stock Exchange benchmark Sensex, which commenced the year on a firming note by 256.15 points in the previous session, added another 88.37 points at 9,991.83.

The Bombay Stock Exchange benchmark Sensex on Friday opened higher by over 88 points on sustained buying by funds on expectations of further cut in interest rates and another economic stimulus package to shore up the sagging economy.

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The 30-share barometer, which commenced the year on a firming note by 256.15 points in the previous session, added another 88.37 points at 9,991.83 in the first five minutes of trading.

The wide-based National Stock Exchange's Nifty also rose by 28.80 points to 3,062.25 points.

Marketmen said expectation of a cut in interest rates and another stimulus economic package remained a driving force behind the current rally.

They said a firming global trend also boosted the trading sentiment.