Markets rise 1% early on US, Asia gains

Markets rise 1% early on US, Asia gains

Mumbai: Bombay Stock Exchange benchmark index Sensex on Tuesday shot up by 202 points in early trade, after recording losses in the previous session, as foreign funds pumped in fresh money, driven by firming trends in other Asian bourses and an overnight rally in the US market.

The 30-share BSE Sensex rose by 202.61 points, or 1.19 % to 16,895.61 points in opening trade with all the sectoral indices trading in positive zone with gains up to 1.64%. The BSE barometer had lost 88.43 points in the previous session on Friday. The market remained closed yesterday on account of “dussehra".

The wide-based National Stock Exchange index Nifty moved up by 57.80 points, or 0.92%to trade above the 5,000-mark at 5,016.75.

Stock brokers said fresh spell of buying by foreign funds bolstered by firming trends in the global markets, influenced trading sentiments on the domestic bourses.

Shares of Bharti Airtel evoked brisk speculative support and traded 2.50% higher at Rs424.70.

Shares that gained on the exchange included, Reliance Industries that was up 0.82% to ,147.20, Reliance Infra rose 0.89% to ,217.80, Rcom 1.09% to 04.85, Infosys Technologies 1.68 per cent to 2,283, Tata Consultancy Services 1.47 per cent to 95.70 and Wipro 1.17% to 73.80.

Further, DLF Ltd gained 1.02% at 31.10, Hindalco 1.54% at 128.60, Sterlite Industries 0.83 per cent at 56.60 and ICICI Bank 1.99 per cent at 55.25.

The US Dow Jones Industrial Average closed 1.28 % higher in yesterday’s trading, while Hong Kong’s Hang Seng Index rose almost 2.2 % and Japan’s Nikkei was up by 0.95% in the morning trade today.