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Sensex up 84 points in early trade; Tata Steel surges 6.45%

Last Updated: Wednesday, August 14, 2013 - 10:07

Mumbai: Continuing rising streak for the fourth straight session, the BSE benchmark index Sensex rose over 84 points in early trade Wednesday on sustained buying by funds and retail investors after Tata Steel posted better-than-expected first quarter earnings amid a firming trend in Asian markets.

The 30-share index, which had gained 564.96 points in the past three sessions, rose further by 84.14 points, or 0.43 percent, to 19,313.98 points.

The wide-based Nifty of the National Stock Exchange moved up by 23.95 points, or 0.42 percent, to 5,723.25.

Brokers said buying activity gathered momentum after Tata Steel posted better-than-expected first quarter earnings and a firming trend in the Asian region.

Stock of Tata Steel climbed 6.45 percent to Rs 256.70 in early trade, after the company's consolidated net profit for the April-June quarter zoomed 90.51 percent to Rs 1,139 crore.

Among Asian markets, Hong Kong's Hang Seng rose by 0.62 percent, while Japan's Nikkei by 1.14 percent in early trade today.


First Published: Wednesday, August 14, 2013 - 10:02
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