The benchmark S&P BSE Sensex surged 130.97 points in morning trade on Wednesday on hectic buying in key heavyweights of oil & gas, auto, power and FMCG sectors on good FII inflows, encouraging Q4 earnings and firm Asian cues.
The 30-share index opened higher at 22,517.63 and surged to 22,676.91. It quoted at 22,657.92 points at 1005 hours, showing a sharp gain of 191.73 points, or 0.85 per cent, from its last close.
The NSE 50-share Nifty also spurted 55.55 points, or 0.83 per cent, to 6,770.80 at 10 a.m. in early trade.
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Major gainers were GAIL (2.99 per cent), Dr Reddy’s (2.00 per cent), RIL (1.96 per cent), Tata Motors (1.80 per cent), HDFC (1.57 per cent) and ONGC (1.56 per cent).
Meanwhile, foreign institutional investors (FIIs) bought shares worth a net Rs. 287.98 crore on Tuesday, as per provisional data from the stock exchanges.
Asian stocks rose as investors weighed corporate earnings before the Bank of Japan and Federal Reserve report on monetary policy.
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Key benchmark indices in China, Japan, Singapore and Indonesia rose 0.03-0.68 per cent while indices in South Korea, Taiwan and Hong Kong were down 0.05-1.17 per cent.