Sensex trims some early gains; up 131 points

Sensex trims some early gains; up 131 points Mumbai: Surrendering some of its early gains, the BSE benchmark Sensex was quoting higher by 131 points in the late morning deals Tuesday, with sustained buying in FMCG, healthcare, metal and realty stocks, amid continued capital inflows.

Index heavyweight and cigarette major ITC hit a record high. FMCG major Hindustan Unilever (HUL) surged nearly 19 percent, after the company's foreign parent Unilever PLC offered to acquire 48.70 crore shares, or 22.52 percent stake, in Hindustan Unilever at Rs 600 each.

The 30-share index resumed higher at 19,492.83 and firmed up further to a high of 19,622.68 before quoting at 19,518.43 at 1030hrs, showing a net gain of 130.93 points, or 0.68 percent from its last close.

The NSE 50-share Nifty also firmed up by 28.85 points, or 0.49 percent, to 5,932.95 at 1030hrs.

Other gainers were Sterlite Ind (3.60 percent), Dr Reddy Lab's (1.97 percent), Sun Pharma (1.85 percent), ITC (1.43 percent), Tata Steel (1.42 percent) and Coal India (1.31 percent).

Foreign institutional investors (FIIs) bought shares worth a net Rs 620.38 crore yesterday as per provisional data from the stock exchanges.

Most Asian stocks were trading higher in their early trade after US housing sales gained and amid speculation central banks will keep stimulating growth. Key indices in Hong Kong, Taiwan, Singapore and South Korea rose by 0.37 percent to 1.19 percent while indices in Japan and Indonesia fell by 0.09 percent to 0.15 percent.

PTI