Sensex regains 26,000-level, Nifty inches close to 8,000-mark

Zee Media Bureau

Continuing its climb for the sixth straight session, the benchmark Sensex reclaimed 26,000-mark by surging over 200 points in early trade Thursday as investors built more bets amid increased foreign fund inflows.

The 30-share barometer last quoted higher by 222.35 points or 0.86 percent to 26,066.53 after moving in range of 26,080.07- 25,965.14.

Also, the NSE Nifty was trading higher by 58.45 points, or 0.74 percent, at 7,973.20.

Brokers said sustained buying by investors, foreign capital inflows, an 'above-normal' monsoon forecast this year and better-than-expected earnings all bolstered sentiment.

Asian shares held near 5-1/2-month highs today as oil prices rallied over 4 percent overnight thanks to a smaller than expected increase in US crude inventories and abiding hopes that producers may eventually agree ways to ease a global glut.

MSCI`s broadest index of Asia-Pacific shares outside Japan rose 0.6 percent while Japan`s Nikkei gained 2 percent. Australian shares rose 0.9 percent and Hong Kong`s Hang Seng added 1.5 percent. Shanghai was little changed.

Wall Street shares ended less than 2 percent short of a record-high close on Wednesday as a rebound in oil prices added to optimism sparked by a raft of earnings reports. The S&P 500 gained 0.08 percent to 2,102.4, and had gained 15 percent since mid-February.