E-Paper
Sensex jumps 300 points in opening trade on global cues
The Bombay Stock Exchange benchmark Sensex surged by 300 points in opening trade on Friday on fresh buying by funds and retail investors, bolstered by firming global trends following a higher-than-expected growth in the US economy.
The Bombay Stock Exchange benchmark Sensex surged by 300 points in opening trade on Friday on fresh buying by funds and retail investors, bolstered by firming global trends following a higher-than-expected growth in the US economy.
The 30-share BSE barometer rose by 300.76 points, or 1.87 per cent, to 16,353.48 points with all the sectoral indices gaining up to 4.70 per cent. The 30-share index had lost 758 points in the previous four sessions.
The wide-based National Stock Exchange index Nifty surged by 101.15 points, or 2.06 per cent to 4,851.70 points.
Brokers said sentiments on the domestic bourses turned better following firming trends on the global markets as the GDP data showing the US economy returned to growth in the third quarter, first time in more than a year.
Sterlite Industries gained 4.54 per cent to Rs 780, Tata Steel by 4.74 per cent to Rs 490.30, Hindalco by 3.36 per cent to Rs 124.70 and Grasim Industries by 3 per cent to Rs 2,197.20.
Stocks of Reliance Industries traded 0.10 per cent higher at Rs 2,005.90 despite the company reporting a fall in its quarterly profits.
The Hong Kong's Hang Seng index shot up by 3.20 per cent, while Japan's Nikkei rose 1.40 per cent in the morning trade today. The US Dow Jones Industrial Averaged ended 2.05 per cent higher in yesterday's trading.
