Sensex opens 99 pts higher on global cues
Mumbai: The Bombay Stock Exchange benchmark
Sensex on Wednesday rose nearly 99 points in early trade, extending
its gains for the fourth straight session, on good buying in
metal and IT stocks by funds, driven by firm global cues.
The 30-share index moved up 98.95 points, or 0.61 percent, to 16,141.13 points in the first five minutes of trade.
The wide-based National Stock Exchange index Nifty also
rose 34.20 points, or 0.71 percent, to 4,826.85 points.
Stock brokers said sentiments on the domestic bourses
were boosted by gains on the other Asian stock markets in line
with overnight rally on the US markets after reports that
Europe was close to bailing out debt-strapped Greece.
Besides, covering-up of short positions by speculators
following an improvement in the trading mood also supported
the rise in stock prices, they added.
Major supporters to the Sensex were Infosys Technologies
up 0.61 percent to Rs 2,486, Sterlite Industries 0.99 percent to Rs 765.05, Tata Steel 1.59 percent to Rs 541.95, ACC
by 0.32 percent to Rs 871.95 and Jaiprakash Associates 2.93
percent to Rs 130.60.
The US Dow Jones Industrial Average ended 1.52 percent
higher in yesterday`s trade, while Japan`s Nikkei was up
almost one per cent in the morning trade today.
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