The BSE benchmark Sensex today rose over 209 points in early trade,extending gains for the second straight session on sustained buying by funds and retail investors triggered by smart corporate earnings and a firming trend overseas.
The 30-share index,which had gained nearly 101 points in the previous session,rose by 209.09 points,or 1.08 per cent,to 19,596.59 in early trade,with all the sectoral indices,led by FMCG and metals,trading in the positive zone with gains of up to 3.55 per cent.
Similarly,the wide-based National Stock Exchange index Nifty rose by 48.45 points,or 0.82 per cent,to 5,952.55.
Brokers said besides better earnings by some blue-chip companies,a firming trend in the Asian region following overnight gains on the US and in European markets,
expectations of a rate cut by the Reserve Bank of India in its policy meet on May 3,buoyed the trading sentiment here.
Meanwhile,in Asia,Hong Kong’s Hang Seng index rose by 0.80 per cent,while Japan’s Nikkei shed 0.2 per cent.
The US Dow Jones Industrial Average ended 0.72 per cent higher in yesterday’s trade.
Indian stocks to watch – April 30
(Reuters): GLOBAL MARKETS ROUNDUP
Nifty futures on the Singapore Exchange is 0.41 percent up while the MSCI-Asia Pacific index excluding Japan is 0.78 percent higher.
Asian shares edged higher on Tuesday as hopes for political stability in Italy and expectations for global central banks to continue their growth-supporting monetary stimulus bolstered investor risk appetite.
The S&P 500 index ended at an all-time high on Monday as growth-oriented stocks,including energy and technology,lead the way to the index’s sixth rise in the past seven sessions.
FACTORS TO WATCH
India to release infrastructure output data for March. (0730 GMT)
India to likely release the fiscal deficit data for April-March. (1130 GMT)
RBS to hold a media roundtable at its office to announce the results of the RBS pre-credit policy client survey and discuss the trends on interest rates,currency and markets.
Bharti Infratel Ltd,the telecommunications tower unit of top Indian mobile phone carrier Bharti Airtel Ltd,reports earnings for its fiscal fourth quarter ended March. India’s Jet founder company to sell shares to comply with rules.
Aircel lenders mull equity infusion from Maxis,merger with Tata Teleservices.
Rio Tinto in talks with TCS,Infosys for $250 mln software services contract.
MCX-SX to launch F&O trading in May.
Bosch’s India unit Jan-March net down 22.62 pct.
India’s Shree Cement Jan-March net profit up two fold.
India’s ING Vysya Bank Jan-March net up 33.86 pct.
India’s FIPB recommends Yes Bank’s $488 mln foreign investment plan.
Etihad extends soft loan worth $300 million to Jet Airways to reduce Jet’s borrowing cost.
Qatar,Air Arabia in line to invest; Spicejet,GoAir frontrunners.
Infosys seeks edge over competition with IPsoft tie-up.