Sensex gains 77 pts in opening trade

Mumbai: The BSE benchmark Sensex gained over 77 points in opening trade today, extending Friday`s gains on continued buying by foreign funds amid a firming trend overseas.

The 30-share index rose by 77.49 points, or 0.47 per cent, to 16,310.03 on the back of buying in IT, refinery, consumer durable and tech sector stocks. The index had gained 440.13 points, or 2.79 per cent, in the previous session.

In a similar fashion, the wide-based National Stock Exchange index Nifty moved up by 16.20 points, or 0.33 per cent, to 4,904.25.

Brokers said the trading sentiment remained bullish on the back of steady foreign capital inflows into the equity market and a firming trend overseas.

In addition, a firming trend in Asian markets, supported by hopes for a resolution to the euro zone`s debt troubles after leaders from Germany and France pledged to unveil a comprehensive plan to solve the crisis, bolstered the trading sentiment at home.