The S&P BSE benchmark Sensex extended gains for the third consecutive day, rising 100 points in late morning trade on sustained buying in healthcare, banking, capital goods, realty and power stocks as the economy grew by a higher-than-expected 4.8 per cent in the September quarter.
Good capital inflows from foreign funds also boosted the market sentiment. Also, foreign institutional investors bought shares worth a net Rs. 745.16 crore, according to provisional data from the stock exchanges.
The latest domestic data showing Gross Domestic Product (GDP) growing by 4.8 per cent in September quarter supported domestic bourses.
The Sensex resumed lower at 20,771.27, but recovered immediately to 20,893.99 before quoting at 20,892.29 at 1030 hrs, showing a gain of 100.36 points or 0.48 per cent from its last weekend’s level.
The NSE 50-share Nifty also moved up by 32.70 points or 0.53 per cent to 6,208.80 at 1030 hrs.
Major gainers were Jindal Steel (2.75 per cent), ICICI Bank (2.59 per cent), BHEL (2.40 per cent), Larsen (1.40 per cent), Bharti Airtel (1.21 per cent), Tata Power (1.13 per cent), Coal India (1.03 per cent) and Reliance Ind. (0.97 per cent).
Most Asian stocks gained in early trade after Chinese manufacturing growth beat analyst estimates in November.
Key benchmark indices in Indonesia, Singapore, Hong Kong and Taiwan were up 0.07 per cent to 0.97 per cent while indices in China, South Korea, and Japan were down 0.2 per cent to 1.65 per cent.