Stocks surge 1.7% on high capital inflows

Stocks surge 1.7% on high capital inflows
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First Published: Fri, May 29 2009. 11 58 AM IST
Updated: Fri, May 29 2009. 11 58 AM IST
Mumbai/New Delhi: The Bombay Stock Exchange (BSE) benchmark Sensex moved up over 248 points on Friday morning, extending gains for the third straight session, on increased capital inflows from foreign funds, driven by a firm trend in the global markets.
At 11:09 am, the BSE 30-share index Sensex, which had gained nearly 710 points in the past two sessions, gathered another 248 points, or 1.72%, at 14, 542.
All the sectoral indices are trading in the positive zone.
Similarly, the wide-based National Stock Exchange (NSE) index Nifty rose 76 points, or 1.76%, to 4,413.60.
Buying activity also picked up as today being the first session of new settlements in the derivatives segment.
Stockbrokers said buying activity continued to pick up on prospects of economic recovery after the Congress-led UPA government returned to power.
Among major gainers are, Infosys Technologies, ICICI Bank, M&M, NTPC, RCom, RIL, Tata Power and Tata Motors.
Meanwhile, Hong Kong’s Hang Seng was up 0.77% at 18,022.59 points in early trade on Friday.
The US Dow Jones Industrial Average had closed 1.25% higher at 8403.80 on Thursday.
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First Published: Fri, May 29 2009. 11 58 AM IST
More Topics: Sensex | Shares | Stocks | BSE | NSE |