Sensex gains 247 pts on global cues

Sensex opens 247 points higher in early trade on Monday on emergence of buying by funds in heavy-weight stocks.

Tracking firm global trend, the Bombay Stock Exchange benchmark Sensex opened 247 points higher in early trade on Monday on emergence of buying by funds in heavy-weight stocks.

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The 30-share Sensex, which lost nearly 87 points on Friday, bounced by 246.89 points to 19,971.44 in the first five minutes of trade.

The wide-based National Stock Exchange index, Nifty, also rose by 74.95 to 5,981.80 points as most of the heavy-weights like Reliance Industries, ACC and Infosys Technology recorded handsome gains.

The trading sentiment turned bullish on reports of a firm trend in the global markets.

The Hong Kong stock exchange opened slightly higher today in the wake of Wall Street's gains on Friday.