Sensex jumps 150 pts, Nifty reclaims 8,200 mark
Extending gains for the sixth day in a row, the benchmark BSE Sensex rose almost 150 points and the NSE Nifty rallied past 8,200 mark in early trade today.
The show was powered by across-the-board value-buying by investors and a stronger rupee amid a rising trend at other Asian bourses.
The 30-share index, which had gained 744.85 points in the past five sessions, rose further by 149.32 points, or 0.55 per cent, to 27,265.15, with all sectoral indices led by metal, oil & gas and banking in the positive terrain, rising up to 0.69 per cent.
The NSE Nifty wrestled back the crucial 8,200 level by surging 43.35 points, or 0.55 per cent, to 8,217.95. Meanwhile, the rupee firmed up 6 paise to 63.67 against the dollar in early trade at the forex market.
Brokers said persistent buying by investors driven by above-normal monsoon till now and the Federal Reserve's dovish stance on interest rate lifted sentiment.
A strong trend at other Asian markets following a record closing at US markets yesterday despite the Greek stalemate helped. However, caution prevailed over continued selling by foreign funds on domestic bourses.
In Asia, Hong Kong's Hang Seng index was trading 1.02 per cent higher while Japan's Nikkei gained 0.81 per cent in early trade. The US Dow Jones Industrial Average rose 1 per cent in yesterday's trade.