Sensex surges 265 pts, Nifty up 78 points as China seeks to boost economy

Mumbai: Rising for the second straight session, the benchmark BSE Sensex today spurted by over 265 points in early trade led by gains in metal, realty and auto stocks amidst a firming trend at other Asian markets.

The 30-share index, which had gained 33.17 points in the previous session, rallied by 265.47 points, or 0.97 per cent, to 27,507.25.

All the sectoral indices were trading in positive zone with gains up to 1.35 per cent, extending major support to the Sensex and Nifty.

Also, the wide-based Nifty of the National Stock Exchange moved up by 78.45 points, or 0.95 per cent, to 8,279.15.

Brokers said revival of buying by foreign funds, though selective on the Indian bourses after remaining net sellers and buying by retail investors, buoyed trading sentiments here.

Besides, a firming trend at other Asian markets on reports that China had unveiled fresh measures to boost the economy too had positive impact, they said.

Among Asian markets, Hong Kong’s Hang Seng was higher by 2.06 per cent, while Japan’s Nikkei moved up by 0.18 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.13 per cent higher in Friday’s trade.

PTI