Sensex rises 114 points in early trade; Nifty regains 8,900-mark
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MUMBAI: Continuing its rising streak for the seventh straight session, the BSE Sensex rose 114 points and the NSE Nifty regained the 8,900-level in early trade today as participants indulged in enlarging positions ahead of Budget.
The 30-share barometer spurted by 114.65 points, or 0.39 per cent, to trade at 29,434.91 with consumer durables, realty, auto, oil and gas and banking sector stocks, leading the rise.
The gauge had rallied by 1,092.84 points in previous six sessions.
Similarly, the National Stock Exchange index Nifty regained the 8,900-mark after three weeks by rising 32.60 points, or 0.36 per cent, to 8,901.70.
Sentiments remained upbeat as funds and retail investors indulged in enlarging positions on expectations that the forthcoming Budget may be growth-oriented, leading to acceleration in economic reforms by the government.
Besides, a better trend at other Asian markets after relatively upbeat Japanese trade data and cautious optimism over a solution to the Greek debt standoff, influenced sentiment, they said.
Major gainers that supported the key indices were Cipla, Maruti Suzuki, Bharti Airtel, Hero Motocorp, M&M, Tata Motors, Sun Pharma, Infosys, HDFC Ltd, ONGC, TCS, Tata Steel, RIL and Hindustan Unilever.
Among other Asian markets, Japan's Nikkei gained 0.46 per cent in early trade today, while Hong Kong's market will remain closed today.
The US Dow Jones Industrial Average ended 0.10 per cent lower in yesterday's trade.
Meanwhile, domestic currency derivatives markets will remain closed today on account of 'Chhatrapati Shivaji Maharaj Jayanti'.
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