The BSE Sensex trimmed its initial gains but was still quoted higher by 26 points in the late morning trade on mild buying mainly in healthcare,capital goods,metal,realty and banking counters on the back of overnight gains in New York market.
Sustained capital inflows from foreign funds also boosted the market sentiment. Foreign institutional investors (FIIs) bought shares worth a net Rs 309.70 crore yesterday as per provisional data from the stock exchanges.
The sensex resumed higher at 21,222.19 and hovered in a range of 21,244.35 and 21,166.55 before quoting at 21,196.42 at 1030hrs,showing a net gain of 25.74 points or 0.12 per cent from its last close.
The NSE Nifty also moved up by 9.75 points or 0.15 per cent to 6,313.75 at 1030hrs.
Other Asian stock markets remained closed today,January 1,for New Year Holidays.
US stocks rose to records yesterday with the Standard & Poor’s 500 Index posting its biggest annual advance since 1997,as higher consumer buoyancy and gains in housing prices bolstered confidence in the world’s largest economy.