Market extends gains; Sensex zooms over 250 points

Zee Media Bureau

The benchmark BSE Sensex extended its early gains in afternoon trade and moved higher by over 250 points on the back of value-buying by retail investors in recently beaten-down stocks.

The 30-share barometer was up 286.54 points, or 1.14 percent, at 25,388.27. The Sensex had lost 505 points in the previous three sessions.

The NSE Nifty too quoted 64.20 points, or 0.83 percent, higher at 7,770.75.

Brokers said value-buying in select blue-chip stocks by retail investors and funds made mood turn for the better.

In Asian trade, Hong Kong was off 0.4 percent while Singapore dipped 0.6 percent. There were also losses in Taipei and Manila. But Shanghai ended 0.2 percent higher and Sydney gained 0.2 percent. Tokyo and Seoul were closed for public holidays. In early European trade London and Frankfurt each climbed 0.2 percent but Paris dipped 0.1 percent.

The US Dow Jones Industrial Average ended 0.56 percent lower yesterday.