Sensex gains 138 points in early trade

The wide-based National Stock Exchange index Nifty rose by 30.65 points, or 0.50 percent, to trade above 6,200-level at 6,217.95.

Last Updated: May 20, 2013, 10:00 AM IST

Mumbai: The BSE benchmark index Sensex surged by nearly 138 points in early trade on sustained buying by funds and retail investors triggered by a firming trend on other Asian bourses.

The 30-share index gained 137.84 points, or 0.68 percent, to trade at 20,423.96, with all the sectoral indices rising up to 1.14 percent. The barometer had gained nearly 595 points in the previous four sessions.

The wide-based National Stock Exchange index Nifty rose by 30.65 points, or 0.50 percent, to trade above 6,200-level at 6,217.95.

Brokers said market remained bullish on reports of higher foreign fund inflows on optimism about a rate cut by RBI. A firming trend in the Asian region following gains on the US market encouraged by strong data also supported the sentiment.

In Asia, Hong Kong's Hang Seng index rose by 1.30 percent, while Japan's Nikkei was up by 1.38 percent in early trade.

The US Dow Jones Industrial Average ended 0.80 percent higher in Friday's trade.

PTI