Sensex jumps 150 points in opening trade on funds buying

Sep 02, 2010 |

mumbai

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BSE Sensex

The Bombay Stock Exchange benchmark Sensex on Thursday opened about 150 points higher on a flurry of buying by funds in realty, banking and metal stocks, driven by firming global trends.

The 30-share index gained 149.97 points to trade at 18,355.84 points, a rise of 0.82 per cent since the previous close of 234.75 points. The wide-based National Stock Exchange's Nifty also edged up by 0.76 per cent to 5,500 points from 5,513.95 points in the previous session.

Brokers attributed the firm trend in India and other Asian bourses to the signs of recovery in the US market on the back of strong manufacturing data, easing fears of a slow-down in the global economy.

Auto stocks led by country's largest car maker, Maruti Suzuki were in demand after auto makers reported a significant growth in sales in August 2010, they said. All the sectoral indices were trading in positive territory with gains up to 1.26 per cent.

The Hong Kong's Hang Seng index was up by 1.38 per cent, while Japanese Nikkei by 1.60 per cent in morning trade. The US Dow Jones Industrial Average closed 2.54 per cent higher in Wednesday’s trade.

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