Sensex surges 95 points on foreign fund inflows
Mumbai: The benchmark Sensex opened on Monday on a positive note after a long break by gaining over 95 points to 25,432.94, extending its rise for the fifth straight session, as investors widened bets on increased foreign fund inflows and positive Asian cues.
The 30-share barometer rose 95.38 points, or 0.37 per cent, to 25,432.94. The gauge had gained 660.19 points in the previous four sessions on expectations that the Reserve Bank would reduce interest rates at its policy review meet on April 5.
Major gainers that supported the key indices were Infosys, Adani Ports, GAIL, TCS, ONGC, ITC Ltd, NTPC, Maruti Suzuki, Wipro, BHEL, SBI, Cipla, M&M and Bajaj Auto, gaining by up to 1.76 per cent.
Also, the NSE Nifty shot up by 24.50 points, or 0.31 per cent, at 7,741.00. Stock exchanges were closed on Thrusday and Friday for 'Holi' and 'Good Friday', respectively. Brokers said sustained buying by investors coupled with foreign capital inflows and a firm trend at other Asian markets influenced sentiment.
In the rest of Asia, Japan's Nikkei rose 0.77 per cent while Shanghai Composite was trading 0.60 per cent higher in early trade on Monday. Hong Kong's financial markets are closed on Monday for a public holiday.