Sensex climbs 179 points in opening trade

Maintaining its four-day bull-run, the BSE benchmark Sensex rose nearly 179 points in opening trade on Tuesday, riding high on positive sentiment following the various measures adopted by Sebi to encourage SMEs to launch public issues and on firm global cues.

Maintaining its four-day bull-run, the BSE benchmark Sensex rose nearly 179 points in opening trade on Tuesday, riding high on positive sentiment following the various measures adopted by Sebi to encourage SMEs to launch public issues and on firm global cues.

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The 30-share BSE Sensex rose by 178.81 points, or 1.1 per cent to 16,677.53 points in opening trade with all sectoral indices trading in positive zone with gains of up to 1.44 per cent. The BSE barometer gathered a hefty 1,093.78 points in the previous four sessions.

The wide-based National Stock Exchange index Nifty climbed 49.30 points to 4,947.70 points.

Brokers said sentiments on the domestic bourses remained buoyant following market regulator SEBI decision to allow stock exchanges to have separate trading platforms for SMEs and relax the criteria for IPOs and FPOs of all companies.

Besides, firm trend on the global markets after the Group of 20 finance ministers pledged to support the world economy further boosted the market mood.

Among prominent gainers, Sterlite Industries rose by 1.31 per cent to Rs 810.90, Tata Steel by 1.11 per cent to Rs 515, Hindalco by 0.93 per cent to Rs 130.75 and Reliance Industries up by 3.23 per cent to Rs 2,089.90.

The Hong Kong's Hang Seng index shot up by 1.2 per cent, while Japan's Nikkei rose 1.3 per cent in morning trade today. The US Dow Jones Industrial Averaged gained 2.03 per cent to close at 13-month high yesterday.