Sensex surges 265 points in early trade on global trends

Rising for the second straight session, the benchmark BSE Sensex on spurted by over 265 points in early trade led by gains in metal, realty and auto stocks amidst a firming trend at other Asian markets.

The 30-share index, which had gained 33.17 points in the previous session, rallied by 265.47 points, or 0.97%, to 27,507.25. All the sectoral indices were trading in positive zone with gains up to 1.35%, extending major support to the Sensex and Nifty. Also, the wide-based Nifty of the National Stock Exchange moved up by 78.45 points, or 0.95%, to 8,279.15. Brokers said revival of buying by foreign funds, though selective on the Indian bourses after remaining net sellers and buying by retail investors, buoyed trading sentiments here.

Besides, a firming trend at other Asian markets on reports that China had unveiled fresh measures to boost the economy too had positive impact, they said. Among Asian markets, Hong Kong's Hang Seng was higher by 2.06%, while Japan's Nikkei moved up by 0.18% in early trade today. The US Dow Jones Industrial Average ended 0.13% higher in Friday's trade.