The Bombay Stock Exchange benchmark Sensex today rose nearly 99 points in early trade, extending its gains for the fourth straight session, on good buying in metal and IT stocks by funds, driven by firm global cues.
The 30-share index moved up 98.95 points, or 0.61 per cent, to 16,141.13 points in the first five minutes of trade.
The wide-based National Stock Exchange index Nifty also rose 34.20 points, or 0.71 per cent, to 4,826.85 points.
Stock brokers said sentiments on the domestic bourses were boosted by gains on the other Asian stock markets in line with overnight rally on the US markets after reports that Europe was close to bailing out debt-strapped Greece.
Besides, covering-up of short positions by speculators following an improvement in the trading mood also supported the rise in stock prices, they added.
Major supporters to the Sensex were Infosys Technologies up 0.61 per cent to Rs 2,486, Sterlite Industries 0.99 per cent to Rs 765.05, Tata Steel 1.59 per cent to Rs 541.95, ACC by 0.32 per cent to Rs 871.95 and Jaiprakash Associates 2.93 per cent to Rs 130.60.
The US Dow Jones Industrial Average ended 1.52 per cent higher in yesterday’s trade, while Japan’s Nikkei was up almost one per cent in the morning trade today.