Business

Sensex gains 130 points on fund inflows, Asian cues

Mumbai, July 17: The benchmark BSE Sensex surged over 130 points in early trade today on the back of sustained foreign capital inflows after government eased FDI rules, and a firming trend at other Asian markets.

The 30-share barometer spurted by 130.20 points, or 0.45 per cent, to 28,576.32 with all the sectoral indices led by healthcare and consumer durables, trading in the positive zone with gains up to 0.86 per cent.

The gauge had rallied 513.22 points in past two straight days.

On the similar lines, the National Stock Exchange index Nifty climbed 34.90 points, or 0.40 per cent, to 8,642.95.

Brokers said persistent buying by foreign funds and retailers investors triggered by the government's move to introduce a composite foreign investment cap by clubbing all forms of overseas investments to define sectoral limits, buoyed trading sentiments.

Besides, a firming trend at other Asian markets after the European Central Bank boosted emergency aid to Greece and eurozone chiefs agreed a bridging loan to the country, too supported the rally on the domestic markets here, they said.

Among other Asian markets, Hong Kong's Hang Seng index was up by 1.12 per cent, while Japan's Nikkei moved up by 0.15 per cent in early trade.

The US Dow Jones Industrial Average ended 0.39 per cent higher in yesterday's trade.

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