Sensex up 90 pts in opening trade on firm global cues

Continuing its upward march, the Bombay Stock Exchange benchmark Sensex on Monday, opened higher by over 90 points in opening trade on increased buying by funds, driven by firming global trends.

The 30-share index, which had gained 209.98 in previous trading, rose by 90.11 points, or 0.96 per cent to 9,391.09 in opening trade.

Similarly, the broader National Stock Exchange Nifty rose by 23.25 points to 2,866.35 in opening trade.

Marketmen said overnight gains on the US markets and firming trend in other Asian stock markets sparked off buying on the domestic bourses.

They said Asian stocks were trading higher amid hopes a massive US stimulus package would boost the US economy and help exporters. Japan's Nikkei was up one per cent, while Hong Kong's Hang Seng rose 0.9 per cent.

Among major gainers which supported the Sensex were RIL by 1.80 per cent to Rs 1,367.70, SBI by 0.80 per cent to Rs 1,127.25, ICICI Bank by 2.47 per cent to Rs 417 and HDFC Bank by 1.00 per cent to Rs 907.55.