Sensex up over 105 points on hopes of quick economic reforms
Mumbai: Extending gains for the sixth straight session, the benchmark BSE Sensex rose over 105 points in early trade Wednesday as participants indulged in enlarging positions on hopes of faster economic reforms by the government and optimism over the forthcoming Budget.
The 30-share index was trading higher by 105.68 points, or 0.36 percent, at 29,241.56 with stocks of FMCG, realty, capital goods, consumer durables, power, bank and healthcare sectors, leading the rise.
The Sensex had gained 908.46 points in the previous five sessions.
Also, the National Stock Exchange index Nifty edged higher by 31.60 points, or 0.35 percent, at 8,840.95.
Brokers said optimistic buying by participants ahead of the Budget and acceleration in economic reforms by the government, led to the rise.
Further, a firming trend at other Asian markets on hopes of a settlement in Greece's debt stand-off after it emerged that the country will ask for an extension to its bailout and avoid a painful Eurozone exit, influenced trading sentiments here, they added.
Among other Asian markets, Hong Kong's Hang Seng was up by 0.20 percent, while Japan's Nikkei gained 0.96 percent in early trade today.
The US Dow Jones Industrial Average ended 0.16 percent higher in yesterday's trade.--PTI