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Sensex gains by 99 points

Mumbai: The Sensex gained by over 99 points in opening trade on the Bombay Stock Exchange (BSE)today on sustained buying by funds, taking cues from other Asian markets but investors remained cautious ahead of the RBI monetary policy.

The 30-share index of the BSE, which gained almost 144 points in the previous session, rose further by 99.02 points, or 0.51 per cent to 19,250.30, with stocks of metals, auto and capital goods sector leading the rise.

In a similar fashion, the broad-based National Stock Exchange Nifty index moved up by 29.25 points, or 0.50 per cent to 5,772.50 points in the first few minutes of the trade.

Brokers said firming trend on the other Asian bourses following overnight gains in the US market, and better third quarter earnings by leading corporates, mainly influenced the trading sentiment.

However, they said, investors were cautious on fears that the Reserve Bank of India may announce a hike in interest rates in its monetary policy to be announced today.

Meanwhile, the Hong Kong`s Hang Seng was up 0.68 per cent, while the Japan`s Nikkei rose 0.94 per cent in the morning trade today. The US Dow Jones Industrial Average ended 0.92 per cent higher in yesterday`s trade.

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