Sensex climbs 64 pts on foreign fund inflows
Mumbai : Extending its climb for the fifth consecutive session, the benchmark Sensex advanced about 64 points and the NSE Nifty retook the 7,500-mark in early trade today as investors widened bets amid increased foreign fund inflows.
The 30-share barometer rose 63.62 points, or 0.25 per cent, to 24,710.10. The gauge had gained 1,644.48 points in the previous four sessions on expectations of a rate cut by RBI and positive global cues.
Major gainers that supported the key indices were BHEL, Tata Steel, GAIL, ONGC, ITC, Cipla, Sun Pharma, Axis Bank, RIL, HDFC, M&M, Bajaj Auto, Tata Motors and L&T, rising by up to 2.98 per cent.
Also, the NSE Nifty reclaimed the crucial 7,500-mark by surging 19.95 points, or 0.26 per cent, at 7,505.30.
Stock exchanges were closed yesterday for ‘Mahashivratri”.
Brokers said sustained buying by investors, coupled with foreign capital inflows on expectations RBI may reduce its policy rate, continued to influence sentiment.
They said, however, a weak trend at other Asian markets slowed the rising pace at the domestic market here as investors waited for the release of key Chinese trade data.
In the rest of Asia, Hong Kong’s Hang Seng fell 0.94 per cent while Japan’s Nikkei plunged 1.63 per cent in early trade today. Shanghai Composite was trading 2.02 per cent down.
The US Dow Jones Industrial Average, however, ended 0.40 per cent higher in yesterday’s trade.