Sensex gains 50 points in early trade

The 30-share index rises to 13,239.98 in first five minutes of trading after gaining 730 pts in the past five sessions.

The stock market continued its upward march for the sixth straight session on Wednesday with the benchmark BSE Sensex rising by over 50 points in early trading on the back of buying by funds and retail investors.

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The strength on the domestic bourses was also attributed to firming trends in Asian markets. The 30-share index, Sensex, which had gained 730 points in the past five sessions, gained another 50.44 points at 13,239.98 in first five minutes of trading.

Similarly, the wide-based National Stocks Exchange Nifty was up by 11.50 points at 3,859.65. Metal sector stocks led by Tata Steel were centre of brisk activity on funds buying, triggered by firming trends in base metals in the global markets.
Tata Steel stocks shot up Rs 13.40 at Rs 509 on increased buying funds as well as retail investors.

Other gainers were Sterlite Industries, Hindalco, Nalco, SAIL, Ranbaxy Lab, Reliance Communication and HDFC Ltd.