Sensex gains 247 points on easing inflation, global cues


The Sensex rose by over 247 points in opening trade on the Bombay Stock Exchange on Friday on continued buying by funds, driven by a firming global market trend and easing food inflation. The Sensex, which gained over 865 points in the past four sessions, shot up by 247.21 points, or 1.33%, to 18,73

6.97 today.

Banking, auto, metal, capital goods and oil and gas stocks led the rally.

Similarly, the broad-based National Stock Exchange Nifty index gained 72 points, or 1.13%, to 5,608.20 points.

Brokers said a firming trend on other Asian bourses following overnight gains in the US market and easing food inflation mainly buoyed the trading sentiment at home.

In addition, corporate-friendly Budget proposals also supporting the ongoing rally on the bourses, they added.

In the Asian region, Hong Kong’s Hang Seng index was up by 1.41%, while Japan’s Nikkei index rose 1.56% in early trade on Friday.

The US Dow Jones Industrial Average ended 1.59% higher in Thursday’s trade.

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