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Market Rally Continues, Sensex Above 29,000 in Early Trade

Press Trust Of India

First published: September 7, 2016, 10:25 AM IST | Updated: September 7, 2016
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Market Rally Continues, Sensex Above 29,000 in Early Trade
File photo of Bombay Stock Exchange building.

Mumbai: Stock markets continued their winning streak for the third straight session, with the BSE Sensex quoting above the crucial 29,000-mark by surging almost 90 points in early trade on Wednesday on widespread gains amid sustained foreign fund inflows.

The 30-share Sensex surged by 89.82 points or 0.30 per cent to 29,067.84 in early trade with sectoral indices led by realty, banking, metal, consumer durables and auto were trading in the positive terrain with gains up to 0.93 per cent.

The gauge had gained 554.54 points in the previous two sessions.

The National Stock Exchange's index Nifty was trading higher by 22.65 points or 0.25 per cent to 8,965.65.

Brokers said sentiment was largely bolstered on sustained foreign fund inflows and persistent buying by retail investors.

Besides, the rupee appreciated by 19 paise to quote at over four month high of 66.33 against the dollar in early trade too buoyed trading sentiments, they added.

At other Asian markets, Shanghai Composite Index was up 0.40 per cent, while Japan's Nikkei shed 0.65 per cent in early trade. Hong Kong's Hang Seng was down 0.21 per cent.

The US Dow Jones Industrial Average ended 0.25 per cent higher in Tuesday's trade as lackluster US economic data boosted confidence the Federal Reserve will continue to keep interest rates low.