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Sensex rallies sharply by 189 pts in morning trade

Mumbai (PTI): The benchmark S&P BSE Sensex surges 189 points to 21,999.22 in the morning trade on persistent buying mainly in banking, auto, refinery and FMCG sectors in view of sustained foreign capital inflows coupled with higher global cues.

The 30-share index Sensex resumed opened higher and firmed up further to 22,040.72 before quoting at 21,999.22 at 1000 hours, showing a gain of 189.42 points, or 0.87 per cent from its previous close.

The NSE 50-share Nifty also moved up by 57.45 points, or 0.88 per cent, to 6,561.65 at 1000 hours.

Major gainers were Maruti Suzuki 6.87 pct, BHEL 2.48 pct, SBI 2.29 pct, M&M 2.14 pct, Gail India 1.63 pct, Axis Bank 1.62 pct, CIL 1.61 pct, RIL 1.56 pct and ONGC 1.49 pct.

Foreign institutional investors (FIIs) bought shares worth a net Rs 982.19 crore on last Friday as per provisional data from the stock exchanges.

Asian stocks rose in their early trade as an improvement in US factory output boosted optimism in the world’s biggest economy.

Key benchmark indices in South Korea, Taiwan, Hong Kong, Japan and Singapore rose 0.1 pct to 1.08 pct while indices in China and Indonesia fell 0.1 pct to 0.62 pct.

US stocks rose yesterday as data showing a gain in industrial production boosted optimism over the economy and investors watched developments in Ukraine.

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