Open: Sensex rises over 1% on firm global cues

Open: Sensex rises over 1% on firm global cues
PTI
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First Published: Fri, Jun 19 2009. 10 04 AM IST
Updated: Fri, Jun 19 2009. 10 04 AM IST
Mumbai: The Bombay Stock Exchange benchmark Sensex on Friday opened over 190 points up, breaking a two-session losing streak, as funds and investors resumed buying activity, driven by the rebound in the global markets on encouraging economic data from the US.
The Sensex, which had plunged over 692 points in the past two sessions, recovered by 190.81 points, or 1.305, at 14,456.34 points in the first five minutes of trade.
The wide-based National Stock Exchange index Nifty was also up by 59.85 points, or 1.30%, at 4,311.25.
Stock brokers said sentiment turned better on emergence of buying by funds and retail investors at prevailing levels as the US data on job market and regional manufacturing revived hopes that the recession-hit economy is stabilising.
Buying activity re-emerged mainly in realty, capital goods and metal sector stocks, which had suffered the most in the past two sessions.
Major gainers supporting the Sensex were, Reliance Industries up 0.25% to Rs2,030, Reliance Infra 3.42% at Rs1,242.35 and Reliance Communications 2.29% at Rs306.85, Infosys rose 0.66% at Rs1,732.80, Tata Steel 1.93% at Rs396.50, Sterlite 1.29% at Rs598.55.
The US Dow Jones Industrial Average ended 0.69% higher yesterday, while Hong Kong’s Hang Seng was up 0.75% and Japan’s Nikkei 0.50% in the morning trade.
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First Published: Fri, Jun 19 2009. 10 04 AM IST
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