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Markets surge by 1% on firm Asia

Markets surge by 1% on firm Asia
PTI
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First Published: Mon, Mar 08 2010. 10 26 AM IST
Updated: Mon, Mar 08 2010. 10 26 AM IST
Mumbai: The Bombay Stock Exchange benchmark Sensex shot up by 193 points in opening trade today on a flurry of buying by funds, driven by firm Asian bourses.
The 30-share index, which had gained 22.79 points in the previous session, spurted by 193.06 points, or 1.13% to 17,187.55 points. The sectoral indices, led by realty and metal sectors, were trading in positive zone with gains of up to 2.13%.
The wide-based National Stock Exchange index Nifty also moved up by 58.40 points, or 1.10% to 5,147.10 points during the early trade.
Stock brokers said trading sentiments were mainly helped by a strong rally on other Asian bourses after the weekend rally on the US markets on encouraging jobs and consumer data.
Select covering-up of short positions by speculators also gave push to rising stock prices, they added.
Among prominent gainers were Reliance Industries 1% to Rs1,020, Infosys Technologies 0.89% to Rs2,657, ICICI Bank 2.28% to Rs922.40, DLF Ltd 2.20% to Rs 323.50, Tata Steel 1.25% to Rs 625.75 and Sterlite Industries 1.24% to Rs 821.
Meanwhile, the Hong Kong’s Hang Seng index was up by 1.91%, while Japan’s Nikkei was up 1.71% in the morning trade today.
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First Published: Mon, Mar 08 2010. 10 26 AM IST
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