BSE Sensex gains 54 points in early trade

BSE Sensex today extended gains for fourth straight day by adding over 54 points.

Written by PTI | Mumbai | Published:May 17, 2013 9:32 am

BSE Sensex today extended gains for the fourth straight day by adding over 54 points in early trade on continued foreign funds inflow,amid a firming trend in the Asian region.

The 30-share barometer rose by 54.25 points,or 0.27 per cent,to 20,301.58,a level last seen in January,2011 with stocks of IT,oil and gas,realty,auto and capital goods

sectors leading the gains. The index had gained 555.66 points in the previous three sessions.


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Similarly,the wide-based National Stock Exchange index,Nifty,moved up by 8.55 points,or 0.14 per cent,to 6,178.45.

Brokers said sentiments on the domestic bourses continues to be buoyed by sustained buying by foreign funds and retail investors on hopes of a rate cut as inflation eased.

Besides,a firming trend in the sian region supported the upside,they said.

Stocks of ITC Ltd rose 0.21 per cent to Rs 337.50 ahead of fourth quarter earnings,to be released later today.

Meanwhile in Asia,Japan’s Nikkei up by 0.35 per cent,in early trade today,while Hong Kong’s market remained closed. The US Dow Jones Industrial Average ended 0.28 per cent lower in yesterday’s trade.

GLOBAL MARKETS ROUNDUP

* Nifty futures on the Singapore Exchange are 0.46 percent up and the MSCI-Asia Pacific index excluding Japan is 0.21 percent lower.

* Japanese shares slipped and Asian equities were broadly steady on Friday after a US Federal Reserve official said the central bank may begin to taper its asset buying this summer,lending support to the dollar.

* US stocks fell on Thursday,with the downturn accelerating late in the day after a Federal Reserve official said the central bank could begin easing up on its monetary stimulus this summer.

FACTORS TO WATCH

* Earnings of ITC Ltd

* India’s foreign reserves and bank lending data (1130 GMT)

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