Sensex builds on gains, rises for 2nd day to 29,098

Mumbai: The benchmark BSE Sensex rose about 50 points in early trade today on sustained buying by funds and retail investors amid mixed global cues.

Rising for the second straight session, the BSE 30-share barometer surged 49.98 points, or 0.17 percent, to 29,098.17.

The gauge had rallied 215.74 points in the previous session.

Sectoral indices, led by power, oil & gas, consumer durables, PSU, FMCG, capital goods, auto and banking, were in the green, gaining by up to 0.69 percent.

Shares of Adani Power surged 5.58 percent to Rs 40.70, while Reliance Power was quoting 3.63 percent higher at Rs 48.55.

Also, the NSE Nifty was quoting 14.40 points, or 0.16 percent higher at 8,977.85.

Brokers said pick-up in buying activity, coupled with robust foreign fund inflows and a mixed trend in other Asian markets influenced trading sentiments.

In other Asian markets, Hong Kong's Hang Seng rose 0.30 percent, while Japan's Nikkei was down 0.17 percent in early trade today. Shanghai Composite Index also shed 0.10 percent.

The US Dow Jones Industrial Average ended 0.24 percent lower yesterday.