Sensex regains 28K-level; Nifty above 8,500 in early trade

Bombay Stock exchange. Reuters File Photo

The benchmark BSE Sensex regained the 28,000-mark by surging over 106 points in early trade of the last session of financial year 2014-15 on the back of a rally in metals, oil & gas, consumer durables, IT and healthcare sector stocks amid a firming trend overseas.

Besides, the 50-share NSE Nifty also reclaimed the 8,500-level by surging 35.60 points, or 0.41 per cent, at 8,527.90.

The 30-share Sensex rose by 106.25 points, or 0.37 per cent, to trade at 28,082.11. The gauge had surged by 518.28 points in the past two sessions.

Brokers said sustained buying by foreign funds and retail investors, triggered by a firming trends at other Asian markets after China’s decision to ease mortgage rules fuelled hopes for further stimulus measures, and overnight rally in US markets helped the key indices to regained their crucial levels.

Besides, the RBI allowing banks to utilise up to 50 per cent of their provisioning buffer towards making specific provisions for bad loans or non-performing assets, as against the earlier 33 per cent, influenced sentiments, they added.

Among other Asian markets, Hong Kong’s Hang Seng rose by 0.53 per cent while Japan’s Nikkei gained 0.65 per cent in early trade today.

The US Dow Jones Industrial Average ended 1.49 per cent higher in yesterday’s trade.

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