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Sensex up 66 points, Nifty above 8,800 in early trade


Mumbai : The benchmark BSE Sensex spurted over 66 points to 28,518.53 and NSE Nifty reclaimed the 8,800-mark in early trade today on continued buying by foreign funds and retail investors even as economic growth slowed to 7.1 per cent in the April-June quarter.

The 30-share index, which had gained 669.92 points in the previous three sessions, was up by 66.36 points, or 0.23 per cent, to 28,518.53 with the sectoral indices led by auto, FMCG and banking were trading in positive zone.

On similar lines, the NSE Nifty crossed the 8,800-mark by gaining 25.55 points or 0.29 per cent to 8,811.75.

Indian economy grew at the slowest pace in last six quarters at 7.1 per cent in the April-June period of current fiscal mainly on subdued performance of mining, construction and farm sectors.

Brokers said widening of positions by retail investors, triggered by sustained foreign fund inflows and significant purchases by domestic financial institutions in the past few sessions buoyed sentiments here.

Besides, a mixed trend overseas too influenced trading, they said.

Among other Asian markets, Japan’s Nikkei was up 0.13 per cent, Hong Kong’s Hang Seng gained 0.27 per cent, while Shanghai Composite index fell 0.16 per cent in early trade.

The US Dow Jones Industrial Average ended 0.29 per cent lower in yesterday’s trade.

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