Sensex gains 247 points on easing inflation, global cues

(source: hindustantimes.com)

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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