Sensex touches 1-month high in early trade

The BSE benchmark Sensex rose by over 164 points in early trade today on increased buying by funds and retail investors, supported by recovery in the rupee and a firming trend in Asian markets.

The BSE Sensex advanced to a one-month high at 16,893.81 in early trade today on easing of euro-zone debt worries, but eased later.

HT Image

The 30-share barometer had opened higher at 16,804.89 points and firmed further to a month's high at 16,893.81, before quoting at 16,849.84 at 1035 hrs, a net gain of 130.97 points, or 0.78%, from its previous close.

Markets opened on a positive note on easing of euro-zone worries after finance ministers of the euro-zone nations, in a emergency conference call last week, agreed to lend Spain up to 100 billion euros to stabilise its banks.

Consumer durables, power, realty, metal, banking, auto and PSU sectors firmed up on good buying enquiries.

Metal stocks rose across the board after the latest data showed that China's imports of both copper and iron ore rose by more than 10% in May 2012 from a month ago.

The NSE 50-share Nifty also firmed up by 43.05 points, or 0.85%, to 5,111.40 at 1035hrs.

Major gainers were Sterlite Ind (3.98%), Tata Power (3.61%), Bajaj Auto (2.05%), ICICI Bank (1.76%), Hindalco (1.70%), Tata Motors (1.59%), Tata Steel (1.53%), Coal India (1.47%) and NTPC (1.38%).

Key benchmark indices in China, Hong Kong, Japan, South Korea, Taiwan, Indonesia and Singapore also rose by between 0.32 % to 2.06%.