The BSE benchmark Sensex regained the 16,000 points level in early trade today, surging by 301 points on fresh buying in metal, realty, power, capital goods, FMCG and banking stocks in view of a firming trend in Asian markets.
The BSE benchmark Sensex resumed higher at 15,890.80 points and shot up further to an early high of 16,016.52 before quoting at 15,996.06 at 1015 hours, a net gain of 300.63 points, or 1.92 per cent, from last weekend’s close.
The NSE’s 50-share Nifty index also moved up by 86.60 points, or 1.84 per cent, to 4,796.65 at 1015 hours.
The market breadth was strong and all 13 sectoral indices on the BSE were trading in the green. Index heavyweight Reliance Industries (RIL) edged higher in early trade. Metal stocks also gained as global commodity prices rose. All the shares in the 30-member Sensex pack were trading higher.
The major gainers in early trade were Hindalco Industries (up 4.14 per cent), Tata Motors (3.38 per cent), Sterlite Industries (3.10 per cent), BHEL (3.02 per cent) and DLF (2.97 per cent).
Meanwhile, Asian shares shot up in early trade as investors reacted to reports of steps being taken by European governments and international agencies to get a grip on the euro zone debt crisis.
The key benchmark indices in China, Hong Kong, Indonesia, Japan, Singapore, South Korea and Taiwan were up by between 0.13 per cent and 1.79 per cent.
