Noon update: Sensex 200 pts up on renewed investor confidence

Noon update: Sensex 200 pts up on renewed investor confidence

Mumbai: The benchmark Sensex traded 200 points higher maintaining the early rise by 69 points on Thursday, 4 December, as investors traded with renewed confidence on reports that government would announce a stimulus package for housing, export and auto sectors on Saturday.

The Bombay Stock Exchange barometer moved up by 226 points to 8,965.30 points around noon at 12:45am, with all the sectoral indices led by realty trading in the positive zone.

The wide-based National Stock Exchange’s Nifty gained 60.45 points at 2,716.65 points at 12:45am.

Firming trends on the global equity markets with Asia trading positive despite economic gloom following US reports on recession, expectations that the government might announce a series of measures, including cut in key rates to boost economy, supported the market.

Suzlon topped the list of gainers, rising 7.84% to Rs40.60 followed by Tata Motors (7.69%, Rs143.50).

Other gainers included Unitech (4.95%, Rs27.55), Reliance Industries (4.66%, Rs1,118.90), SBI (4.54%, Rs1,147), ICICI Bank (4.24%, Rs349) and HDFC Bank (4.09%, Rs1468.20).

Among Asian bourses today, Hong Kong’s Hang Seng was up 1.98%, while Japan’s Nikkei gained 0.62% in early trade.