Sensex up 113 points in opening trade
Continuing with its previous day`s gains, the Bombay Stock Exchange benchmark Sensex on Thursday moved up by over 113 points in opening trade amid strong global cues.
Mumbai: Continuing with its previous day`s gains, the Bombay Stock Exchange benchmark Sensex on Thursday moved up by over 113 points in opening trade amid strong global cues.
The 30-share Sensex, which had gained 87.29 points in the previous trading session, rose by another 113.13 points, or 0.64 percent, to 17,622.93 points.
The wide-based National Stock Exchange index Nifty also gained 31.10 points to trade at 5,265.05.
Brokers said the market opened strong in line with other Asian stocks that started the day on a positive note taking cues from the US market which closed in the black on Wednesday.
Besides, pick up in buying by retail investors and covering-up of short positions by speculators also supported the rise in stock prices, they added.
The US Dow Jones Industrial Average yesterday ended 0.50 per cent higher, while Japan`s Nikkei and Hong Kong`s Hang Seng were up by almost 1 percent in the morning trade on Thursday.
Some of the major gainers in morning trade were Reliance Industries up by 2 percent to Rs 1,110.10, Mahindra and Mahindra by 1.29 percent to Rs 1,169.65, Sterlilte Industries by 1.43 percent to Rs 875, ICICI Bank by 0.68 percent to Rs 845.65 and State Bank of India by 0.56 percent at Rs 2,190.