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Sensex opens higher as global markets rally
The Sensex opened the day higher led by strong rally across global markets, following weak GDP data in the US, which raised hopes that the FED would continue its stimulus measures.
The BSE recovered and was trading 160 points higher in early trade on fresh buying by funds triggered by a firming asian trend.
Investors covering their pending short-positions created in the recent bear-run following settlement in derivatives segment, further supported the uptrend.
Among the top gainers in trade were Bajaj Auto, Ultratech Cement and Sun Pharma. Stocks that lost ground from the Nifty were Tata Motors, Coal India, NTPC and Maruti Suzuki.
Brokers said fresh buying by funds amid a firming Asian trend following overnight gains at the US market mainly boosted the trading sentiment here. In Asia, Hong Kong's Hang Seng index rose by 0.58 per cent, while Japan's Nikkei by 1.92 per cent in early trade. The US Dow Jones Industrial Average ended 1.02 per cent higher in yesterday's trade.
With inputs from PTI
