Sensex rises for third straight session, hovering above 18,800
Mumbai: The BSE benchmark Sensex on Wednesday rose by 80 points in early trade, extending an upward streak for the third straight session, after Reliance Industries and HCL Technologies posted encouraging fourth quarter earnings.
Besides, a firming trend in the global markets also buoyed the trading sentiment here.
The 30-share index, which had gained over 502 points in the previous two sessions, rose by 80.09 points, or 0.43 percent, to 18,825.02, with stocks of IT, technology, realty and consumer sectors leading the rise in early trade.
Similarly, the wide-based National Stock Exchange index Nifty rose by 30.45 points, or 0.54 percent, to 5,719.40.
Buying activity triggered after Reliance Industries yesterday posted a 32 percent jump in its fourth quarter net profit, the biggest rise in almost three years, brokers said.
A better trend in the Asian region, following overnight gains on US markets, following on the back of positive corporate earnings, further generated buying, they said.
Shares of RIL rose 0.68 percent to Rs 810, after the company yesterday reported a net profit of Rs 5,589 crore in January-March as against Rs 4,236 crore in the same period a year ago.
In the IT segment, TCS surged one percent to Rs 1500, while HCL Technologies, which posted an over 72 percent jump in net profit at Rs 1,039.9 crore for the January-March quarter today, was trading higher by up 4.30 percent at Rs 795.50.
In the Asian region, Hong Kong's Hang Seng index was up by 0.16 percent, while Japan's Nikkei Index gained 1.03 percent in the morning trade today.
The US Dow Jones Industrial Average ended 1.08 percent higher in yesterday's trade.