Extending its rise for the second straight session, the benchmark BSE Sensex spurted by over 314 points in early trade on Friday on firming global trend after the U.S. Fed gave indication of holding interest rate hike in the short-term.
Besides, further recovery in the rupee, which was trading 11 paise higher at 63 against the dollar in early trade, also supported the rally.
The 30-share index, which had gained 416.44 points in the previous session, rose further by 314.29 points, or 1.16 per cent, to 27,440.86. All sectoral indices led by capital goods, realty, IT and metal were trading in positive zone with gains up to 1.87 per cent, rendering major support to the Sensex and Nifty.
Also, the wide-based Nifty of the National Stock Exchange reclaimed the 8,200-mark by moving up 82.10 points, or 1.01 per cent, to 8,241.40.
Sustained buying by funds and retail investors, tracking a firming trend on global markets, after the Federal Reserve said on Wednesday a rate hike was unlikely in the short-term, mainly buoyed trading sentiment, brokers said.
Expectations of acceleration in reforms process after the Cabinet’s clearance to the Constitutional Amendment Bill on GST too triggered buying activity, they said. Among Asian markets, Hong Kong’s Hang Seng was higher by 1.04 per cent, while Japan’s Nikkei moved up by 1.92 per cent in early trade today.
The U.S. Dow Jones Industrial Average ended 2.43 per cent higher in Thursday’s trade.
