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The benchmark Sensex rose by 69 points in the early trade on Thursday on buying by funds and general investors bolstered by firm trend in global equity markets and reports that government would announce a stimulus package for housing, export and auto sectors on Saturday.
The Bombay Stock Exchange barometer, which had closed firm in the last session, moved up by 69.50 points to 8,816.93 points, with all the sectoral indices led by realty trading in the positive zone.
The wide-based National Stock Exchange's Nifty gained 19.45 points at 2,674.90 points. |
Marketmen said that apart from firming trends on the global equity markets, expectations that the government might announce a series of measures, including cut in key rates to boost economy, supported the market.
They said overnight gains in Indian companies ADRs on the US markets, which closed nearly 3 percent higher on Wednesday, influenced the sentiments.
Among auto stocks, Mahindra and Mahindra gained 1.32 percent at Rs 246, while Tata Motors gained 1.13 percent at Rs 134.70.
Other gainers were Reliance Industries (0.20 percent at Rs 1,071.60), SBI (1.64 percent at Rs 1,115.50), ICICI Bank (0.60 percent at Rs 336.90) and HDFC Bank (0.93 percent at Rs 890).
Last night, the US Dow Jones Industrial Average closed 2.05 percent, while London's FTSE rose by 1.1 percent.
Among Asian bourses on Thursday, Hong Kong's Hang Seng was up 1.98 percent, while Japan's Nikkei gained 0.62 percent in early trade.(ddinews)
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