Sensex opens higher by 137 points
Mumbai: The Bombay Stock Exchange benchmark Sensex rose by over 137 points in opening trade on the last day of the 2010-11 financial year on continued capital inflows from foreign funds and easing inflation concerns following a fall in oil prices.
The 30-share index, which has rallied by nearly 1,446 points in the past seven straight sessions, gained another 137.42 points, or 0.71 per cent, to 19,427.60 points in opening trade, with interest-related, banking and realty stocks leading the rally.
The wide-based National Stock Exchange index Nifty also moved up by 38.05 points, or 0.65 per cent, to 5,825.70 in opening trade.
Brokers said overnight gains in the US market and a firm trend on Asian bourses, coupled with a fall in oil prices that eased concerns of inflation and a hike in interest rates, mainly buoyed the trading sentiment here.
Steady capital inflows by foreign funds and covering up of pending short positions by speculators today, the last session for current month settlement in the derivatives segment, also supported the uptrend, they said.
Meanwhile, Hong Kong`s Hang Seng index was up marginally by 0.07 per cent in early trade today. The US Dow Jones Industrial average ended 0.58 per cent higher in the previous session.