Mumbai, October 24, 2011 (Tehelkanews)
The BSE benchmark Sensex rallied by over 300 points in opening trade on Monday on fresh spell of buying by funds and retail investors, driven by a firming trend in global markets.Covering-up of short positions by speculators ahead of monthly expiry in the derivatives segment on Thursday also supported the upside in stock prices.
The 30-share BSE index, which had lost nearly 300 points over the past two trading sessions, bounced by 300.83 points, or 1.79 per cent, to 17,086.47 points in the first five minutes of trade today, backed by metal, realty, IT and banking stocks.
Similarly, the wide-based National Stock Exchange Nifty index moved up by 91.15 points, or 1.80 per cent, to 5,141.10.
Brokers attributed the rise to a firming trend in Asia, in tandem with Friday's surge on the US market, as renewed efforts to limit the euro-zone debt crisis boosted investors' confidence globally amid strong earnings from blue-chip companies.
Hong Kong's Hang Seng Index was up 3.50 per cent, while Japan's Nikkei Index rose by 1.61 per cent in morning trade.
In the U.S., the Dow Jones Industrial Index closed 2.31 per cent higher on Friday.
News From: http://www.7StarNews.com
Monday, October 24, 2011
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment