Sensex up 78 points in the opening trade

Sep 03, 2010 |

mumbai

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Sensex

The Bombay Stock Exchange benchmark Sensex rose over 78 points in the opening trade on Friday, extending its winning streak for the third straight session, led by buying by funds and retail investors, especially in technology stocks.

The 30-share index, which had gained over 267 points in the previous two sessions, rose by 0.42 per cent to 18,316.32 points in the first five minutes of trading. Similarly, the broad-based National Stock Exchange index Nifty climbed 0.48 per cent to 5,510.40.

Brokers said increased buying by funds and retail investors was driven by strong GDP data and reports of increased tax collection from companies.

Besides, gains on the global stock markets also buoyed the trading sentiment, they said. The Hong Kong's Hang Seng index was up by 0.15 per cent, while Japanese Nikkei gained 0.39 per cent in the morning trade on Friday. The US Dow Jones Industrial Average ended 0.49 per cent higher in Thursday’s trade.

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