Open: Markets surged over 1% on strong Asia

Open: Markets surged over 1% on strong Asia
PTI
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First Published: Thu, Apr 09 2009. 11 26 AM IST
Updated: Thu, Apr 09 2009. 11 26 AM IST
Mumbai: Continuing its gaining streak for the sixth session in a row, the BSE benchmark Sensex on Thursday rose by another 190 points in early trade on increased capital inflows by funds, driven by overnight rally on the US markets and firming trend on other Asian bourses.
The 30-share index, which moved up by nearly 12% in the last five sessions, gained 189.78 points, or 1.76%, to touch almost six-month high of 10,932.12 points, a level last seen on 10 October last year, in early trade.
All the sectoral indices were trading in positive zone with gains up to 3.42%.
The wide-based National Stock Exchange’s Nifty also soared 58.20 points, or 1.74%, to 3,401.15.
Stock brokers said overnight gains on the US markets and firming trend in other Asian bourses mainly bolstered the trading sentiment on the domestic markets. They added buying activity picked up on expectations of a rate cut by the RBI.
Major gainers were Reliance Industries, up by 0.98% to Rs1,741, Tata Motors by 4.95% to Rs233.30, Tata Steel by 3.20% to Rs250.25, Sterlite Industries by 2.41% to Rs393, State Bank of India by 2.50% to Rs1,152, ICICI Bank by 2.16% to Rs384.70.
Meanwhile, the US Dow Jones Industrial Average closed 0.61% higher yesterday, while Japan’s Nikkei gained 2.95% and Hong Kong’s Hang Seng 1.19% in early trade today.
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First Published: Thu, Apr 09 2009. 11 26 AM IST
More Topics: BSE | NSE | Stocks | Sensex | Markets |