Sensex extends gains, up 134 points in opening trade

Mumbai: The Bombay Stock Exchange benchmark Sensex rose by 134 points in opening trade today, extending yesterday’s gains on continued buying by funds and retail investors, tracking a firming trend in global markets.

The 30-share index of the Bombay Stock Exchange, which had gained 242.16 points in yesterday’s choppy trade, moved up by another 134.38 points, or 0.80 percent, to 16.843.98 in opening trade today.

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In a similar fashion, the wide-based National Stock Exchange Nifty index rose by 49.80 points, or 0.99 percent, to 5,062.35.

Heightened buying interest in stocks of realty, metal, power and technology companies was primarily responsible for the Sensex’s rise in opening trade, according to market participants.

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They attributed the gains to sustained buying by funds and retail investors, supported by a firm trend on other Asian bourses following overnight gains in the US market.

However, participants exhibited some degree of caution ahead of the RBI’s scheduled review of the monetary policy tomorrow, they said.

In the Asian region, Japan’s Nikkei index was trading 1.74 percent higher, while Hong Kong’s Hang Seng moved up by 0.41 percent in early trade today. The US Dow Jones Industrial Average ended 1.27 percent higher in yesterday’s trade.

PTI