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Sensex rises 94 pts in early trade


Mumbai, Dec 1 (PTI) Continuing its winning-streak for the fourth straight session, the BSE Sensex rose by another 94 points in early trade today amid clamour for rate cut by the Reserve Bank tomorrow after the better-than-expected second quarter GDP growth.

The 30-share barometer spurted by 94.55 points, or 0.33 per cent, to trade at 28,788.54 with consumer durables, healthcare, auto, IT and banking sector stocks leading the rise. In the previous three sessions, the gauge rallied by over 355 points.

Similarly, the National Stock Exchange index Nifty regained the 8,600-mark by rising 24.35 points, or 0.28 per cent, to 8,612.60.

Sentiments turned better as buying activity gathered momentum after India’s economy grew at a better-than-expected rate of 5.3 per cent in the July-September quarter, making a strong case for a rate cut by the RBI, brokers said.

Besides, a mixed trend at other Asian markets also influenced sentiment, they said.

Major gainers that supported the key indices were included Axis Bank, Bharti Airtel, Dr Reddy, Hind Unilever, ICICI Bank, SBI, Sun Pharma, TCS and Wipro.

Auto stocks such as Hero MotoCorp, Maruti Suzuki, M&M, Bajaj Auto and Tata Motors were also in good demand ahead of monthly sales figures.

Among other Asian markets, Hong Kong’s Hang Seng shed 1.29 per cent, while Japan’s Nikkei gained 0.81 per cent in early trade today.

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