Extending yesterday's gains, the benchmark BSE Sensex spurted by another 210 points in early trade on sustained foreign fund inflows amidst a firming trend overseas in response to ECB measures to boost the eurozone economy. The 30-share Sensex shot up by 210.51 points, or 0.84 %, to trade at 25,230.02 with stocks of oil and gas, realty, capital goods, PSUs and banking sectors rallied.
The gauge had climbed nearly 214 points in the previous session. The 50-share NSE Nifty, regained 7,500 mark for the first time since May 16 by gaining 50.10 points, or 0.67 %, to 7,524.20. Brokers said buying momentum picked up further on sustained foreign funds inflows amidst a firming trend in the global markets in response to European Central Bank measures to boost the eurozone economy.
Stocks of Reliance Industries shot up by 2.93 % to Rs 1,120 and ONGC gained 3.78 % to Rs 435.50 after reports that the government is likely to hike natural gas rates from July 1 after a new price formulation is approved by the Cabinet. Other major contributors to the rally were SBI, ICICI Bank, HDFC Bank, Maruti Suzuki, Tata Steel, NTPC, Bharti Airtel, Larsen and Toubro and BHEL. Among other Asian markets, Hong Kong's Hang Seng rose 0.53 %, while Japan's Nikkei was up by 0.39 % in early trade today. The US Dow Jones Industrial Average rose 0.59 % to close at new high in yesterday's trade.