Sensex up by 102 points on fresh buying
Mumbai: Fresh buying in IT, metal, banking and capital goods stocks on the back of firm Asian cues pushed up the BSE benchmark Sensex by 102 points in early trade Tuesday.
The BSE benchmark Sensex resumed higher at 17,015.99 and moved in a range between 17,035.49 and 16,927.16 before quoting at 16,941.62 at 1015 hours, a net rise of 101.99 points, or 0.61 percent, from its last close.
The NSE's 50-share Nifty index also moved up by 37.70 points, or 0.74 percent, to 5,110.65 at 1015 hours.
IT stocks rose on bargain buying after their recent losses, while mineral exploration companies National Aluminium Company, Coal India and Hindalco Industries gained after reporting strong Q1 results.
Index heavyweight Reliance Industries also edged higher, but Reliance Communications fell after posting weak Q1 results.
In the 30-share Sensex pack, 23 stocks rose and seven fell.
The major gainers from the Sensex pack were Coal India (up 1.95 percent), SBI (1.67 percent), Sterlite Industries (1.57 percent), Infosys (1.54 percent), BHEL (1.45 percent) and ICICI Bank (1.40 percent).
Meanwhile, Asian stock markets rose in early trade Tueday, taking cues from shares on Wall Street, which climbed for the third straight session on Monday, inspired by takeover news and better-than-expected Japanese data after a torrid July and August.
The key benchmark indices in Hong Kong, Japan, Indonesia, Singapore, South Korea and Taiwan were up between 0.09 percent and 3.74 percent.