Sensex rally builds, climbs 201 points on global cues

Mumbai: Adding to its rally for the sixth session, the benchmark Sensex zoomed over 201 points today as investors mounted more bullish bets amid good progress in monsoon rains and firming Asian cues. [caption id=“attachment_2772580” align=“alignleft” width=“380”]  Reuters[/caption] The 30-share barometer surged 201.10 points, or 0.74 per cent, to 27,346.01. The gauge had gained 747.20 points in the previous five sessions. Also, the NSE Nifty was trading higher by 57.05 points, or 0.68 per cent, at 8,385.40. The big movers are ONGC, Tata Motors, GAIL, L&T, ICICI Bank, SBI, Power Grid, Lupin, NTPC, Tata Steel, Infosys, Dr Reddy’s and RIL, gaining by up to 3.50 per cent. The rupee appreciating against the US dollar by 15 paise to 67.17 in early trade today on sustained selling of the American currency by exporters and banks came as a positive trigger. Brokers said sustained buying by investors and domestic financial institutions and positive cues from other Asian markets driven by a post-Brexit rally on hopes that central banks will step up stimulus measures bolstered sentiment here. Good progress in monsoon rains so far kept things upbeat too, they added. In the rest of Asia, Hong Kong’s Hang Seng rose 1.65 per cent while Japan’s Nikkei gained 0.44 per cent in early trade today. Shanghai Composite was trading 1.52 per cent higher. The US Dow Jones Industrial Average ended 0.11 per cent higher in Friday’s trade.