After initial hiccups, the benchmark sensex improved further by 88 points at 10:15 hrs following overnight strong rally on Wall Street amid sustained buying by foreign funds.
The 30-share barometer, which jumped by a whopping 1,036.42 points or 11.56 per cent in the last four-day rally, initially moved erratically in a range of 10,091.18 and 9,914.29 points before being quoted at 10,090.97 at 1015 hours, a rise of another 87.87 points from its previous close.
The broad-based 50-issue Nifty of the National Stock Exchange also moved up by another 24.50 points or 0.79 per
cent to 3,106.75 at 1015 hrs from its last close.
Brokers attributed rally in share values to smart rise on Wall Street on Thursday. The Dow Jones Industrial Average and the tech-heavy Nasdaq Composite Index were up by 2.25 per cent and 3.80 per cent, respectively on hopes that the US economy's worst days might be over.
However, Asian indices were trading narrowly mixed in early trade. Metal, capital goods, banking and pharma shares were in keen demand, while IT counters were down on profit-selling
on the first day of the April series.
Continued capital inflows and fall in inflation to 0.27 per cent mainly gave support to the market.
No comments:
Post a Comment