Sensex gains 175 points in early trade

The benchmark index gains 174.74 points to reach 17,523.81 on heavy buying sparked by Reliance Power.

The Bombay Stock Exchange benchmark Sensex gained 175 points in initial trade on Monday on buying in bluechips led by Reliance Power.

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The Sensex, which lost nearly 4 per cent last week, gained 174.74 points to reach 17,523.81 on heavy buying sparked by Reliance Power announcement of three bonus shares for every five held in the company.

The wide-base Nifty of the National Stock Exchange gained 56.25 points to 5,166.90 as most of index-related stocks rose sharply.

Shares of RPower was quoted at 429.30, up 2.99 per cent, in early morning trade on the BSE.