Mumbai:The stock market continued its upward momentum on 17 May with the benchmark Sensex rising by another 203 points in early trading on the Bombay Stock Exchange on sustained buying by funds amid short-covering.
The strength in domestic stock markets was on the back of global firmness in stocks. The BSE-30 share index, Sensex, which had gained nearly 198 points in the previous sessions, climbed 203.65 points, or 1.44% to 14,330.96 in the first five minutes of trading.
Similarly, on the wide-based National Stock Exchange, Nifty regained 4,200 points level to quote 48.15 points higher at 4,219.10. It gathered 50.65 points on 16 May. Stock brokers said reports of firming trends at global markets mainly triggered buying by funds on the domestic bourses.
At US markets most Indian companies ADRs ended in the green with notable gains. Major contributers to the rise in the Sensex were Reliance Industries, State Bank of India, HDFC Bank, Larsen and Toubro, Maruti Udyog, Reliance Capital and ONGC.