Sensex extends rally, up 96 points in early trade
Adding to its yesterday's rally, the benchmark BSE Sensex advanced by 96 points in early trade today as investors widened their portfolios amid sustained foreign fund inflows.
Mumbai: Adding to its yesterday's rally, the benchmark BSE Sensex advanced by 96 points in early trade today as investors widened their portfolios amid sustained foreign fund inflows.
Besides, industrial production data for April, which is due on Friday also influenced sentiment.
The 30-share barometre rose 95.74 points or 0.35 percent to 27,105.41. The gauge had gained 232.22 points to close at an over seven-month high of 27,009.67 in the previous session on RBI accommodative policy.
The NSE Nifty was trading higher by 22.45 points or 0.27 percent at 8,288.90.
The major gainers were ONGC, L&T, Tata Motors, Sun Pharma, BHEL, M&M, ITC, NTPC, HUL, Cipla, Lupin and Dr Reddy's, advancing by up to 1.60 percent.
Brokers said besides RBI's accommodative policy, sustained buying by investors, foreign capital inflows, above normal monsoon forecast and encouraging March quarter earnings by bolstered trading sentiment.
Shares of Airtel, Idea and Reliance Communication were in better shape and rose by up to 2.39 percent after Telecom Commission yesterday stood by its decision to levy 3 percent spectrum usage charge (SUC) of adjusted gross revenue on telecom operators.
In the rest of Asia, Japan's Nikkei gained 0.33 percent while Hong Kong's Hang Seng fell 0.27 percent in early trade today. Shanghai Composite was trading 0.71 percent lower.
The US Dow Jones Industrial Average ended 0.10 percent higher in yesterday's trade.