BSE Sensex rises on sustained buying by funds

The Bombay Stock Exchange (BSE) index Sensex rose by another 112 points in early trade on Tuesday, maintaining its winning streak for the fourth straight day, on sustained buying by funds and retail investors amid a firming trend in other Asian markets.

Brokers said persistent buying by funds and retail investors after the surprise rate cut by the Reserve Bank of India (RBI) last week, coupled with encouraging Q3 earnings by some bluechip companies, buoyed trading sentiments.

Besides, a firming global trend in anticipation of the European Central Bank (ECB) launching fresh stimulus also has a positive impact on the Asian market.

The 30-issue benchmark BSE barometer, which gained over 915 points in the previous three sessions, surged by 112.16 points (or 0.40 per cent), to 28,374.17.

All sectoral indices, led by metal and IT, were trading in the positive zone with gains up to 0.62 per cent.

On similar lines, the broader 50-share National Stock Exchange (NSE) index Nifty was trading higher by 38.35 points (or 0.45 per cent), to 8,589.05.

Among Asian bourses, Hong Kong’s Hang Seng was higher by 0.76 per cent, while Japan’s Nikkei shot up by 1.65 per cent in early trade on Tuesday.

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