Sensex up 290 points at opening
Continuing its firm trend, the Bombay Stock Exchange benchmark Sensex on Thursday opened sharply higher by over 290 points on buying by funds and retail investors in heavy-weight shares.
The sensitive index, which had gained over 90 points on Wednesday, shot up by another 290.65 points to 16,534.84 in first five minutes of trade.
Similarly, the wide-based National Stock Exchange's Index, Nifty, rose by 79.55 points to 4,966.85 as stocks like ACC, Reliance Industries, Larsen and Toubro, Ranbaxy, Infosys Technologies, TCS and BHEL traded higher.
Banking stocks led by State Bank of India, HDFC Bank and ICICI Bank were also in positive territory with handsome gains.
The strength in domestic stock market was on the back of firmness in the US and Asian stock markets.
Marketmen said reports of near-normal monsoon this year forecast by the Meteorological Department too had its positive impact on the trading sentiments here.