Sensex advances further by 122 points

Mumbai: The BSE benchmark Sensex advanced further by 122 points in early trade on Wednesday on sustained buying by funds in PSU, consumer goods, power and metal stocks despite mixed global cues.

The BSE benchmark Sensex resumed higher at 18,527.12 and hovered in a range between 18,629.03 and 18,526.86 before quoting at 18,625.72 at 1015 hours, showing a net gain of 122.44 points, or 0.66 per cent, from its last close.

The NSE`s 50-share Nifty index also rose by 33.60 points, or 0.60 per cent, to 5,593.75 at 1015 hours.

Among the major gainers from the Sensex pack, NTPC rose by 2.49 per cent, Bharti Airtel by 2.20 per cent, RCom by 1.57 per cent, Reliance Infra by 1.41 per cent, SBI by 1.40 per cent, M&M by 1.39 per cent and L&T by 1.28 per cent.

Most metal stocks rose as metal prices gained on the London Metal Exchange on Tuesday.

Foreign institutional investors (FIIs) bought shares worth Rs 1,310.98 crore, as per provisional figures released by the stock exchanges.

The annual monsoon rains have hit Kerala two days earlier than expected this year, boosting prospects for a harvest that could spur Asia`s third-largest economy.

Meanwhile, most Asian stocks rose today, tracking overnight gains in the US market. The key benchmark indices in Indonesia, Singapore, South Korea and Taiwan rose by between 0.18 per cent and 0.91 per cent. However, the key benchmark indices in China, Hong Kong and Japan fell by between 0.01 per cent and 0.25 per cent.