Sensex up 149 points after RBI eases infra financing norms

Sensex upMumbai: The benchmark BSE Sensex gained over 149 points in early trade on Wednesday on increased buying by funds and retail investors after the RBI relaxed financing norms for infrastructure development and affordable housing.

The 30-share barometer gained 149.34 points, or 0.59 percent, to 25,377.99 with stocks of realty, banking, infrastructure sectors leading the rise, brokers said.

In the previous session, the index had gone up by 221.67 points.

The National Stock Exchange index Nifty traded higher by 44.70 points, or 0.59 percent, at 7,571.35.

Brokers said sentiments buoyed after the RBI yesterday exempted long-term bonds from mandatory regulatory norms like CRR and SLR if the money raised is used for funding of infrastructure and affordable housing projects.

Stocks of DLF Ltd, Unitech, IDFC, SBI, Axis Bank and ICICI Bank, Mahindra and Mahindra, Reliance Industries, Infosys and Larsen and Toubro were major gainers.

Among other Asian markets, Japan's Nikkei rose by 0.02 percent, while Hong Kong's Hang Seng up 0.05 percent in early trade on Wednesday.

The US Dow Jones Industrial Average ended 0.03 percent higher in Tuesday's trade.--PTI