Sensex climbs 162 points on renewed hope of US tax cuts
The benchmark BSE Sensex rallied around 162 points in early trade today on widespread gains as investors indulged in widening bets amid firm overseas cues.
Mumbai: The benchmark BSE Sensex rallied around 162 points in early trade today on widespread gains as investors indulged in widening bets amid firm overseas cues.
The BSE 30-share barometer surged 161.95 points, or 0.55 percent, to 29,584.34. The gauge had gained 103.29 points in the previous two sessions.
All sectoral indices led by oil&gas, FMCG, PSU, metal and bank were in the green, gaining up to 0.72 percent.
Also, the NSE Nifty surged 47.25 points, or 0.51 percent, to 9,183.65.
Reliance Industries gained the most among Sensex-30 constituents by climbing 1.62 percent to Rs 1,391.55.
Firming trend at other Asian markets, tracking overnight gains at the Wall Street on revived hopes of US tax cuts mainly accelerated buying activity on the domestic bourses, brokers said.
Sentiments also got a boost after Bank of Japan said it will keep accommodative policy in place.
In other Asian markets, Japan's Nikkei was up 0.86 percent while Hong Kong's Hang Seng rose 0.31 percent in early trade today. Shanghai Composite Index was marginally up by 0.07 percent.
The US Dow Jones Industrial Average ended 0.85 percent higher yesterday.