Sensex rises above 100 points on positive global cues

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The benchmark BSE Sensex rallied over 100 points in early trade on Thurday to maintain its positive form for the fourth straight day on positive cues from global markets.

Unabated buying by domestic institutional investors fuelled the uptrend, brokers said.

The 30 share index gained 128.08 points (0.36 percent) at 35447.43.

Sectoral indices led by IT, Teck, auto, capital goods and banking were in the positive zone, rising by up to 0.59 percent.

The broader 50-share NSE Nifty too rose 39.65 points (0.36 percent) to 10781.35. Earlier the gauge had gained 403.97 points in the previous three sessions.

Major gainers were ICICI Bank, Axis Bank, Coal India, L&T, M&M, ONGC, RIL, Bharti Airtel, TCS, Infosys and HDFC Bank, gaining up to 1.16 percent.

Investors were busy expanding their positions amid expectations of encouraging earnings from more companies, they added.

A firm trend in the rest of Asia following overnight positive leads from the Wall Street too influenced sentiments here.

Globally, oil prices traded higher as investors digested the impact of renewed US sanctions on Iran.

Meanwhile, on a net basis, Foreign Portfolio Investors (FPIs) sold shares worth Rs 704.03 crore while Domestic Institutional Investors (DIIs) bought shares to the tune of Rs 664.92 crore, a provisional data showed.

In other Asian markets, Hong Kong’s Hang Seng rose 0.83 percent while Japan’s Nikkei gained 0.17 percent. China’s Shanghai Composite Index too rose 0.15 percent.

The US Dow Jones Industrial Average ended 0.75 percent higher while Nasdaq Composite Index gained 1 percent to trade in green on Wednesday.

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