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Sensex up 65 points on funds buying

India's 50-issue NSE index rose to a record high of 4,277.80 points in early deals on Tuesday.

business Updated: May 22, 2007 10:33 IST

The stock market opened firm on Tuesday with the Bombay Stock Exchange benchmark Sensex gaining almost 65 points in early trading on sustained buying by funds, fuelled by firming Asian markets.

The rally was led by oils, communications and steel sector stocks.

The 30-share index (Sensex), which had gained 115.19 points in the previous session, climbed up by another 64.99 points at 14,483.59 in the first five minutes of trading.

Similarly, on the wide-based National Stock Exchange, Nifty was up by 16.90 points to 4,277.80, another new high.

Stock brokers said reports of firming trends in other Asian markets enthused the trading sentiments here, triggering buying by foreign funds.

Major gainers were Reliance Industries, Reliance Communications, ONGC, ITC Ltd, MTNL, Ranbaxy Lab, Tata Steel and Reliance Capital.

First Published: May 22, 2007 10:26 IST