Sensex surges 119 pts on fund inflows, corp earnings
The benchmark BSE Sensex on Tuesday rose over 119 points in early trade on encouraging corporate earnings and sustained foreign capital inflows coupled with a firming trend on other Asian bourses.
The 30-share index, which had gained 708 points in the previous five sessions, gathered another 119.33, or 0.46 per cent, to 25,834.50. All the sectoral indices, led by infrastructure, realty FMCG and oil & gas, were trading in positive territory with gains up to 0.78 per cent.
The NSE Nifty also maintained its rising trend by gaining 23.35 points, or 0.30 per cent, to 7,707.55. Brokers said sustained foreign capital inflows and persistent buying by retail investors, driven by encouraging first quarter earnings posted by bluechip companies so far and positive economic factors, including progress in Monsoon, bolstered trading sentiment.
Besides, a firming trend on other Asian markets following signs of easing geopolitical tension in Ukraine boosted investor sentiments, they said. Stock of RIL continued its upward journey on the back of better-than-expected first quarter earnings and was trading 0.59 per cent higher at Rs. 1,003.20.
In the Asian region, Japan’s Nikkei rose 0.96 per cent, while Hong Kong’s Hang Seng gained 0.34 per cent in early trade on Tuesday. The US Dow Jones Industrial Average closed 0.28 per cent lower in Monday’s trade.