Sensex rises 72 points in opening trade

Mumbai: The BSE benchmark Sensex extended its gains by adding 72 points in opening trade on Tuesday on continued buying by foreign funds and retail investors.

The 30-share index of the Bombay Stock Exchange, which rallied by nearly 740 points in the previous two sessions, rose by another 72.06 points, or 0.40 per cent to 18,274.26 points in the first few minutes of trade today.

Likewise, the wide-based National Stock Exchange Nifty index moved up by 18.45 points, or 0.33 per cent, to 5,474.45.

Brokers said sustained buying by funds and retail investors in stocks with strong fundamentals and covering-up of pending short positions by speculators mainly influenced the trading sentiment.

Capital goods, consumer durables and power stocks were in keen demand and accounted for most of the gains on the Sensex.

Stocks of ADA Group company, Rcom, however, were under some pressure and fell by 1.80 per cent to Rs 95.65 in early trade. The firm had posted a 54.84 per cent decline in net profit for the quarter ended December 31.

Meanwhile, Japan`s Nikkei index was up 0.05 per cent, while Hong Kong`s Hang Seng index shed 0.48 per cent in morning trade today.