Snapping its three-session falling streak, the benchmark Sensex regained the 10k level and gained over 238 points in opening trade
MUMBAI: Snapping its three-session falling streak, the benchmark Sensex on Monday regained the 10k level and gained over 238 points in opening trade on revival of buying by funds, triggered by firming Asian stock markets.
The 30-share index, which had lost nearly 1,510 points in the past three sessions, recovered by 238.29 points, or nearly 2.3 per cent, at 10,213.64 points on renewed buying in the stocks of banking, capital goods and realty sectors.
The wide-based National Stock Exchange's Nifty rose by 663.20 points, or nearly 2.1 per cent, at 3,137.55 points.
Marketmen said firming trends at other Asian stock markets and improving liquidity conditions after the government and RBI announced a series of measures, including a 250 basis points cut in CRR to release Rs 1,00,000 crore into the financial system, mainly influenced the sentiments here.
Covering up of short positions by speculators in view of some improvement in the behaviour of market also supported the recovery trend in stock prices, they said.
Capital goods stocks such as Larsen and Toubro were up by 1.50 per cent at Rs 811, while state-run BHEL gained 0.35 per cent at Rs 1,199.
IT majors Infosys Technologies rose by three per cent at Rs 1,240, Satyam Computers up by 4.79 per cent at Rs 278.70, Wipro gained 5.09 per cent at Rs 270.70 and Tata Consultancy appreciated by 2.85 per cent at Rs 467.10.
Other gainers were HDFC Bank, HDFC Ltd, DLF Ltd, ONGC, Reliance Infra, RCom and Tata Motors.
However, shares of RIL were down by 1.17 per cent at Rs 1,290, while Reliance Petroleum was trading lower at Rs 97.
Meanwhile, Hong Kong's Hang Seng index was up 2.2 per cent, while Japan's Nikkei gained 2.33 per cent in early trade.
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