Sensex opens 137 points up

Sensex gained 56.67 pts in past two sessions,rallied further by 136.79 points with all sectoral indices.

Extending gains for the third straight session,the BSE benchmark index Sensex today rose by nearly 137 points in early trade on continued buying by funds and retail investors.

The 30-share BSE index,which had gained 56.67 points in the past two sessions,rallied further by 136.79 points,or 0.79 per cent,to 17,324.13 with all sectoral indices,led by realty and IT,trading in the positive zone clocking gains of up to 1.43 per cent.

The wide-based National Stock Exchange index Nifty moved up by 32.70 points,or 0.63 per cent,to 5,241.70.

Brokers said increased buying by funds as well as retail investors at prevailing levels,mainly helped Sensex to rise further.

In the Asian region,the Hong Kong8217;s Hang Seng Index rose by 1.18 per cent in early trade today. Japanese markets are closed today. The US Dow Jones Industrial Average ended 0.18 per cent higher in previous session on Friday.

Pre open: Stocks to Watch

GLOBAL MARKETS ROUNDUP

India8217;s benchmark Index rose 0.31 per cent to close at 17,187.34 points in a special 90-minute trading on Saturday after banks and realty stocks advanced.

NSE8217;s 50-shares index or Nifty rose 0.35 per cent to 5,209 points.

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Asian shares inched higher on Monday as weaker-than-expected US growth data left open the possibility for more monetary stimulus from the Federal Reserve.

US stocks advanced on Friday and posted their best weekly gains in a month as stronger-than-expected earnings from Amazon.com and Expedia Inc reinforced confidence in corporate performance.

KEY EVENTS TO WATCH

Jan-March results of Oriental Bank of Commerce,Bank of India,Dabur India,Godrej Consumer Products,Exide Industries,Titan Industries ,United Phosphorus.

Prime Minister Manmohan Singh calls a meeting of his ministers to sort out differences over exports of some farm commodities such as sugar and cotton.

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India8217;s Telecom Commission,the highest decision-making body within the telecoms ministry,meets on Monday to discuss various matters including guidelines for a 2G spectrum auction.

India8217;s infrastructure output for March. 0630 GMT

INDIAN STOCK TO WATCH

FINANCIAL

Schroders Plc is buying a 25 per cent stake in India8217;s Axis Asset Management Co,aiming to tap into growing business opportunities in Asia8217;s third-largest economy and meet demand for financial products from its burgeoning middle class.

AUTOS/INDUSTRIAL

India8217;s Maruti Suzuki said net profit fell to a better-than-expected 6.40 billion rupees in the January to March quarter from 6.80 billion rupees a year earlier and forecast a return to double-digit sales growth.

COMMODITIES/ENERGY

India8217;s Jindal Steel amp; Power Ltd plans to spend about 100 billion rupees 1.9 billion on capital expenditure in the fiscal year that started in April,Sushil Maroo,group chief financial officer,said on a conference call.

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Indian wind turbine maker Suzlon Energy is working with international banks to raise between 300 million and 500 million in overseas bonds to repay debts due this year,its group chief financial officer said.

OTHER FACTORS TO WATCH

Indian debt/FX factors to watch

Dollar tripped by US GDP data,Aussie shines

Oil little changed in thin,tug-of-war trade

Foreign institutional investor flows

For closing rates of Indian ADRs