Sensex builds on gains, surges 90 pts ahead of GDP data
Mumbai : The benchmark BSE Sensex surged over 90 points in early trade today, extending its rally to the fourth straight session on continued buying by domestic institutional investors amid expectations of positive GDP data to be released later in the day.
The 30-share index was trading higher by 90.06 points or 0.34 per cent, to 26,484.07 with the sectoral indices led by healthcare, consumer durables, realty, oil & gas and PSUs trading higher.
The gauge had gained 533.84 points in the previous three sessions.
The NSE index Nifty too was up 31.25 points or 0.38 per cent to 8,173.40.
Brokers said persistent buying by domestic institutional investors amid a firming trend in other Asian markets following positive lead from Wall Street’s reaction to data showing the US economy expanded at a quicker rate than expected in the third quarter, influenced the trading sentiment here.
Besides, optimistic buying by investors ahead of GDP data to emerge later in the day, too lifted the mood, they said.
Among other Asian markets, Hong Kong’s Hang Seng was up 0.19 per cent and Japan’s Nikkei gained 0.12 per cent, however, Shanghai Composite Index shed 0.71 per cent in early trade today.
The US Dow Jones Industrial Average ended 0.12 per cent higher in yesterday’s trade.