The BSE Sensex is trading higher on the back of strong flows from foreign institutional investors (FIIs), who were net buyers of 9.9 billion rupees worth of shares on Friday, according to exchange data.
FIIs have bought more than $517 million in equities in the last two trading sessions, even after the US Fed announced last week a long-expected decision to trim its bond purchases.
The BSE Sensex was up 98 points and the Nifty gained 30 points as of 11.06 am.
A range of blue chips lead gainers, with
State-run banks also gain on value buying:
United Spirits Ltd (USPL) is down 2.11 per cent after a regional court annuls sale of the Indian spirits maker to British group Diageo Plc.
BSE Sensex gains 105 points in early trade
(PTI) The benchmark BSE Sensex rose by almost 105 points in early trade today on sustained buying by funds and retail investors amid a firming trend in other Asian markets.
Extending its rising streak for the second straight session, the 30-share index was up by 104.82 points, or 0.50 per cent, to 21,184.54 with all the sectoral indices, led by capital goods and oil and gas, trading in positive territory, rising up to 1.11 per cent.
The Sensex had gained 371.10 points in the previous session.
The wide-based NSE Nifty also moved up by 31.55 points, or 0.50 per cent, to 6,305.80.
Brokers said continued buying by funds and retail investors amid a firming trend on other Asian bourses after Friday's gain in the US markets, as economic growth figures came in well above expectations, influenced the trading sentiment here.
In the Asian region, Hong Kong's Hang Seng Index rose by 0.68 per cent in the morning trade today, while Japan's Tokyo stock exchange remained closed for a public holiday.
The US Dow Jones Industrial Average gained 0.26 per cent to close at fresh record highs in Friday's trade.