Sensex up 67 points in early trade
The benchmark BSE Sensex gained over 67 points in early trade on Wednesday on continued capital inflows by funds and retail investors, following the RBI’s decision to cut the statutory liquidity ratio (SLR).
Rising for the third straight day, the 30-share barometer surged 67.31 points, or 0.27 per cent, to 24,925.90 with stocks of consumer durables, realty, capital goods and auto sectors leading the rise.
The index had gained over 641 points in last two trading sessions. On similar lines, the National Stock Exchange index Nifty continued its winning streak and rose 11.40 points, or 0.15 per cent, to 7,427.25.
Brokers said trading sentiments remained bullish as the central bank, in its second bi-monthly monetary policy statement for 2014-15 yesterday, unlocked about Rs 40,000 crore of banking fund by reducing SLR to 22.5 per cent.
Among other Asian markets, Hong Kong’s Hang Seng was down 0.29 per cent while Japan’s Nikkei gained 0.22 per cent in early trade today. The US Dow Jones Industrial Average ended 0.13 per cent lower in Tuesday’s trade.