Sensex rises 121 points on capital inflows

Maintaining its upward trend, the benchmark BSE Sensex on Friday rose further by over 121 points in early trade on the back of rally in realty, auto, power and capital goods sector stocks amid increased fund inflows.

Besides, a firming trend on other Asian markets supported the upside.

The 30-share Sensex spurted by 121.05 points, or 0.50 per cent, to trade at 24,495.45. The gauge had gained 76.38 points in Wednesday’s trade.

The 50-share NSE Nifty also moved up by 22.90 points, or 0.31 per cent, to 7,299.30.

Sectoral indices led by realty, power, PSUs, capital goods and bankings stocks continued to trade in the positive territory with gains up to 2.40 per cent.

Brokers said sentiments remained extremely bullish on persistent buying by foreign investors who expect the new BJP-led NDA government to take measures for reviving the investment climate.

With the improvement in trading sentiments, buying activity also gathered momentum in mid and small-cap sector stocks, having potential to appreciate, they said.

Among other Asian markets, Hong Kong’s Hang Seng rose 0.25 per cent while Japan’s Nikkei gained 0.94 per cent in early trade on Friday.

The U.S. Dow Jones Industrial Average ended 0.06 per cent higher in Wednesday’s trade.