Mumbai: The BSE benchmark Sensex on Monday rose by over 76 points in early trade, extending gains for the second straight session on increased buying by funds and retailers amid strong corporate earnings.
The 30-share barometer, which had gained 82.27 points in Friday's trade, surged 76.53 points, or 0.47 percent, to 16,229.28 led by banking, realty and consumer durables stocks.
The wide-based National Stock Exchange index Nifty, moved up by 26.90 points, or 0.55 percent, to 4,918.35.
Brokers attributed the rise to increased buying by funds and retail investors, along with covering-up of short positions by speculators triggered by strong earnings by state-run State Bank of India and Reliance Capital.
Stocks of State Bank of India rose 2.92 percent to Rs 1,998.80, while Reliance Capital gained 6.57 percent to Rs 310.
In the Asian region, Japan's Nikkei was up by 0.08 percent, while Hong Kong's Hang Seng index shed 0.32 percent in early trade. The US Dow Jones Industrial Average ended 0.59 percent lower in the previous trading session.
First Published: Monday, May 21, 2012, 09:43