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Sensex extends rally, up 96 pts in early trade

Sensex-BSE

dding to its yesterday’s rally, the benchmark BSE Sensex advanced by 96 points in early trade today as investors widened their portfolios amid sustained foreign fund inflows.

Besides, industrial production data for April, which is due on Friday also influenced sentiment.

The 30-share barometre rose 95.74 points or 0.35 per cent to 27,105.41. The gauge had gained 232.22 points to close at an over seven-month high of 27,009.67 in the previous session on RBI accommodative policy. The NSE Nifty was trading higher by 22.45 points or 0.27 per cent at 8,288.90.

The major gainers were ONGC, L&T, Tata Motors, Sun Pharma, BHEL, M&M, ITC, NTPC, HUL, Cipla, Lupin and Dr Reddy’s, advancing by up to 1.60 per cent.

Brokers said besides RBI’s accommodative policy, sustained buying by investors, foreign capital inflows, above normal monsoon forecast and encouraging March quarter earnings by bolstered trading sentiment.

Shares of Airtel, Idea and Reliance Communication were in better shape and rose by up to 2.39 per cent after Telecom Commission yesterday stood by its decision to levy 3 per cent spectrum usage charge (SUC) of adjusted gross revenue on telecom operators.

In the rest of Asia, Japan’s Nikkei gained 0.33 per cent while Hong Kong’s Hang Seng fell 0.27 per cent in early trade today. Shanghai Composite was trading 0.71 per cent lower.

The US Dow Jones Industrial Average ended 0.10 per cent higher in yesterday’s trade.

PTI

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