Sensex 164 pts up ahead of RIL, TCS quarterly results

BSE benchmark Sensex today opened about 165 points up on buying, spurred by a normal monsoon forecast and expectations of better quarterly results from industry heavyweights Reliance Industries and Tata Consultancy amid a firming trend overseas.

BSE benchmark Sensex on Thursday opened about 165 points up on buying, spurred by a normal monsoon forecast and expectations of better quarterly results from industry heavyweights Reliance Industries and Tata Consultancy amid a firming trend overseas.

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The 30-share index rose by 164.51 points, or 0.84% to 19,635.49 points in opening trade. It had gained nearly 380 points in the previous two sessions.

Similarly, the broad-based National Stock Exchange index Nifty gained 42.40 points, or 0.72% to 5,894.05.

Brokers said expectations that industry giants Reliance Industries and Tata Consultancy may come out with encouraging Q4 earnings, to be announced later today, supported the upward trend.

Also, they said the sentiment was bullish on continued buying by foreign funds and retail investors, driven by firming trend on Asian bourses followed by overnight gains at the US market.

Japan's Nikkei was up by 0.83% and Hong Kong's Hang Seng Index by 0.75% in early trade on Thursday. In the US, the Dow Jones Industrial Index closed 1.52% higher on Wednesday.