Sensex up 148 pts on rise in FMCG

Mumbai: Fresh buying at FMCG, realty and and banking counters pushed up the BSE benchmark Sensex by 148 points in early trade today despite mixed global cues.

However, activity remained restricted ahead of the release of quarterly GDP numbers later today.

The BSE benchmark Sensex resumed higher at 18,266.61 and shot up further to quoted at 18,380.85 at 1015 hours, showing a net gain of 148.79 points, or 0.82 per cent.

The NSE`s 50-share Nifty also firmed up by 50.35 points, or 0.92 per cent, to 5,523.45 at 1015 hours.

Among the major gainers from the Sensex pack, ITC rose by 2.80 per cent, DLF by 2.45 per cent, HDFC Bank by 1.81 per cent, SBI by 1.57 per cent, Wipro by 1.55 per cent and HDFC by 1.50 per cent.

The key benchmark indices edged higher in early trade, tracking mostly higher Asian stocks. The market breadth was strong. Index heavyweight Reliance Industries (RIL) nudged higher. Banking stocks rose for the fourth straight day.

They said, however, participants were cautious and kept their activity restricted ahead of the quarterly GDP numbers to be announced later today.

Asian stocks rose earlier today amid speculation that European officials will sanction more assistance for Greece.

The key benchmark indices in Hong Kong, Japan, Singapore, South Korea and Taiwan rose by between 0.3 per cent and 1.58 per cent. However,the key indices in China and Indonesia fell by 0.13 per cent and 0.11 per cent, respectively.