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Sensex surges 276 points on strong capital inflows

Monday, 19 May 2014 - 10:01am IST | Agency: PTI

Continuing its upward journey, the benchmark BSE Sensex spurted by nearly 276 points in opening trade today on sustained fund inflows on hopes of a stable government at the Centre after the BJP-led NDA's victory in the Lok Sabha elections.

Sectoral indices led by realty, PSUs, capital goods and bankings stocks continued to trade in the positive territory with gains up to 2.54%. The 50-share NSE Nifty also gained 65.40 points, or 0.91%, to 7,268.40. The 30-share Sensex zoomed by 275.82 points, or 1.14%, to trade at 24,397.56. The gauge had rallied by over 216.14 points after touching an intra-day record high of 25,375.63 in Friday's trade.

Brokers said sentiments turned extremely bullish, following sustained capital inflows by foreign funds at the domestic bourses and widespread buying by retail investors on the victory of Narendra Modi-led BJP in Lok Sabha polls. Further, a firming trend in other Asian markets buoyed the trading sentiments here, they said. Among other Asian markets, Hong Kong's Hang Seng rose 0.17% while Japan's Nikkei gained 0.24% in early trade today.

The US Dow Jones Industrial Average gained 0.27% in Friday's trade.

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