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Sensex Snaps Losing Streak, Up 323 Points

Mumbai, Aug 10 : Snapping a six-session losing streak, the BSE benchmark Sensex was up by 323 points in early trade today due to fresh buying in IT, realty, consumer durable, auto and metal stocks
PTI August 10, 2011 11:32 IST
PTI

Mumbai, Aug 10 : Snapping a six-session losing streak, the BSE benchmark Sensex was up by 323 points in early trade today due to fresh buying in IT, realty, consumer durable, auto and metal stocks on the back of higher Asian cues.

The BSE benchmark Sensex resumed higher at 17,244.71 and hovered in a range between 17,256.46 and 17,093.63 before quoting at 17,181.34 at 1015 hours, showing a net rise of 323.43 points, or 1.92 per cent, from its last close.

The NSE's 50-share Nifty index also shot up by 102.35 points, or 2.02 per cent, to 5,175.20 at 1015 hours.

The major gainers in early trade were Tata Motors (up 4.31 per cent), Hindalco Industries (4.19 per cent), M&M (3.96 per cent), DLF (3.66 per cent), Infosys (3.66 per cent) and TCS (3.48 per cent).

The key benchmark indices surged in opening trade to halt a six-day declining trend amid the improved sentiment in Asia, helped by a Wall Street rally after the US Federal Reserve yesterday pledged to keep US interest rates low at least through mid-2013.

The key benchmark indices in Taiwan, South Korea, China and Japan were up by between 1.15 per cent and 3.24 per cent.

Singapore's Straits Times was down 0.83 per cent. The Dow Jones Industrial Average finished up 429.92 points, or 3.98 per cent, yesterday. The Standard & Poor's 500-stock index rose 53.07 points, or 4.74 per cent, and the Nasdaq Composite gained 124.83 points, or 5.29 per cent. PTI