E-Paper
Sensex rises 190 points in early trade on firm global cues
The Bombay Stock Exchange benchmark Sensex on Friday opened over 190 points up, breaking a two-session losing streak, as funds and investors resumed buying activity, driven by the rebound in the global markets on encouraging economic data from the US.
The Bombay Stock Exchange benchmark Sensex on Friday opened over 190 points up, breaking a two-session losing streak, as funds and investors resumed buying activity, driven by the rebound in the global markets on encouraging economic data from the US.
The Sensex, which had plunged over 692 points in the past two sessions, recovered by 190.81 points, or 1.30 per cent, at 14,456.34 points in the first five minutes of trade.
The wide-based National Stock Exchange index Nifty was also up by 59.85 points, or 1.30 per cent, at 4,311.25.
Stock brokers said sentiment turned better on emergence of buying by funds and retail investors at prevailing levels as the US data on job market and regional manufacturing revived hopes that the recession-hit economy is stabilising.
Buying activity re-emerged mainly in realty, capital goods and metal sector stocks, which had suffered the most in the past two sessions.
Major gainers supporting the Sensex were, Reliance Industries up 0.25 per cent to Rs 2,030, Reliance Infra 3.42 per cent at Rs 1,242.35 and RCom 2.29 per cent at Rs 306.85, Infosys rose 0.66 per cent at Rs 1,732.80, Tata Steel 1.93 per cent at Rs 396.50, Sterlite 1.29 per cent at Rs 598.55.
The US Dow Jones Industrial Average ended 0.69 per cent higher yesterday, while Hong Kong's Hang Seng was up 0.75 per cent and Japan's Nikkei 0.50 per cent in the morning trade.
