Sensex climbs 161 points on rate cut hope, positive global cues

All sectoral indices led by oil and gas, banking and PSUs were quoting in the green, adding up to 1.02 per cent.

The Sensex surged about 161 points to 28,401.47 in opening trade on Monday as investors widened their bets amid hopes of a rate cut by the Reserve Bank of India amid a firming trend in global markets.

Extending its post-Budget rally for the fourth straight day, the BSE 30-share barometer surged 160.95 points, or 0.57 per cent, to 28,401.47.

The gauge had rallied 584.56 points in the previous three sessions after the presentation of the Budget.

All sectoral indices led by oil and gas, banking and PSUs were quoting in the green, adding up to 1.02 per cent.

Also, the Nifty gained 45.60 points, or 0.52 per cent, to 8,786.55.

Japan’s Nikkei was up 0.30 per cent while Hong Kong’s Hang Seng rose 0.68 per cent in early trade. Shanghai Composite was quoting 0.45 per cent higher.

The U.S. Dow Jones Industrial Average ended 0.94 per cent higher in Friday’s trade.