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Sensex takes gains forward, climbs 112 points in early trade

Sensex3_6

Mumbai: Extending their gains for the sixth consecutive session, the benchmark Sensex advanced nearly 112 points and the NSE nifty reclaimed the 8,200-mark in early trade today on sustained buying by investors and funds amid a firming trend on Asian bourses. The 30-share barometer rose 111.60 points, or 0.41 per cent, to 26,837.20. The gauge had gained 1,495.24 points in the previous five sessions.

Stocks of auto, consumer durable, banking, FMCG and power sectors trading in positive zone, rising by up to 1.94 per cent. Also, the NSE Nifty was trading higher by 35.10 points, or 0.42 per cent, at 8,213.60.

Shares of Tata Motors led the rally by surging 8.30 per cent to Rs 455.45 after the company yesterday posted a three-fold rise in its consolidated net profit at Rs 5,177.06 crore for the fourth quarter ended March 31.

Brokers said sustained buying by retail investors and increased foreign funds inflow amid a firming trend at other Asian bourses influenced sentiment here. Encouraging fourth quarter earnings by some more companies too accelerated buying activity, they said.

In rest of Asia, Hong Kong’s Hang Seng rose 1.06 per cent while Japan’s Nikkei edged up 0.49 per cent in early trade today. Shanghai Composite gained 2.11 per cent. The US Dow Jones Industrial Average ended 0.25 per cent higher in yesterday’s trade.
PTI

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