Sensex extends gains, up 168 points in early trade

MUMBAI: Rising for the seventh straight day, the benchmarkBSE Sensex rose 168 points in early trade as participants engaged in enlarging positions tracking a firm global cues amid steady progress in monsoon. 

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Moreover, strengthening of rupee, which appreciated by another six paise to 63.49 a dollar at the forex market too had positive impact. 

The 30-share index was trading higher by 168.39 points or 0.62 per cent at 27,484.56, with all the sectoral indices, led by realty and banking, tThe Sensex had gained 945.19 points in the previous six days. 

Also, the National Stock Exchange Nifty edged higher by 54.30 points or 0.66 per cent to 8,279.25. 

Asian markets were firm after Greece presented new proposals on reforming its bailout, fuelling hopes of an end to a five-month deadlock, averting a default and possible exit from the euro zone. Further, reports of steady progress in monsoon so far, influenced trading sentiments, they added. 

Among other Asian markets, Hong Kong's Hang Seng was up by 0.41 per cent, while Japan's Nikkei gained 0.80 per cent in early trade on Monday. 

rading in positive zone, rising up to 1.49 per cent. 

Source - TOI

Ahead of Fed meet, Sensex trends up 170 pts

MUMBAI: Continuing its winning streak for the fourth straight session, the benchmark BSE Sensex surged over 170 points in early trade on Wednesday on sustained buying by investors in blue-chip stocks amid a firming trend in Asian markets ahead of US Fed policy announcement. 

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The 30-share barometer rose 170.86 points, or 0.64 per cent, to 26,857.37. The gauge had gained 315.53 points in the past three straight sessions. 

Stocks of Hind Unilever, Tata Steel, Cipla, Infosys, Coal India, Dr Reddy's, HDFC, Hero MotoCorp, Wipro, Bharti Airtel, TCS and Sun Pharma were trading in the positive zone with gains up to 2.31 per cent. The NSE Nifty too advanced 45.25 points, or 0.56 per cent, to trade at 8,092.5. 

Brokers said continued buying by investors following reports of above-normal progress in monsoon so far and narrowing of trade deficit to a three-month low in May lifted market sentiment. 

A firming trend in other Asian markets, tracking overnight gains in US markets ahead of an outcome of Federal Reserve policy meet, too supported the upside in the domestic markets here, they said. 

Among other Asian markets, Japan's Nikkei was up by 0.24 per cent while Hong Kong's Hang Seng rose 0.32 per cent in early trade on Wednesday. 

The US Dow Jones Industrial Average ended 0.64 per cent higher in Tuesday's trade. 

Source - TOI

Sensex climbs 321 points on rate cut hopes, value-buying

MUMBAI: The benchmark BSE sensex on Friday staged a strong comeback to close 321.73 points higher on across-the-board buying in blue-chip stocks by funds and retail investors on rate cut hopes and value-buying. 

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Further, beginning of June series in the derivatives segment, supported the upside in stock prices. 

The 30-stock index opened on a positive note at 27,553.03 but quickly slipped into the red on profit-booking. Later, it bounced back at a rapid pace to hit the day's high of 27,888.32 on beginning of June series in the derivatives segment. 

The gauge settled 321.73 points or 1.17 per cent higher at 27,828.44, its strongest rally since May 18. 

On similar lines, NSE Nifty recaptured the 8,400-mark by rising 114.65 points or 1.38 per cent to 8,433.65 after hovering between 8,443.90 and 8,305.70, intra-day. 

Revival of value-buying by investors as recent fall was excessive, too influenced sentiments, they said. 

Bharti Airtel at 5.98 per cent was the best sensex gainer, followed by M&M 4.89 per cent, GAIL 2.30 per cent, Maruti Suzuki 2.26 per cent and Coal India 2.14. 

Sentiments bolstered on renewed hopes that the Reserve Bank of India may cut rates in its policy review and beginning of new series in the derivatives segment, triggering buying by participants, brokers said. 

Of 30-sensex shares, 26 ended higher, while 4 ended lower. 

Among BSE sectoral indices, auto index gained the most by rising 2.08 per cent, followed by infra (1.84 per cent), healthcare (1.63 per cent), bankex (1.45 per cent), oil & gas (1.32 per cent) and capital goods (1.23 per cent). 

Buying activity also re-emerged in the broader markets with the BSE mid-cap index rising 1.48 per cent and small cap gaining 1.22 per cent. 

Meanwhile, foreign portfolio investors sold shares worth Rs 792.54 crore, while Doemstic Institutional Investors bought shares worth Rs 683.29 crore yesterday, as per provisional data.

Source - Times Of India