Sensex builds on gains, up 50 points in early trade

Mumbai: The benchmark BSE Sensex rose about50 points in early trade today on sustained buying by funds and retail investors amid mixed global cues.

Rising for the second straight session, the BSE 30-share barometer surged 49.98 points, or 0.17 per cent, to 29,098.17.

The gauge had rallied 215.74 points in the previous session. Sectoral indices, led by power, oil & gas, consumer durables, PSU, FMCG, capital goods, auto and banking, were in the green, gaining by up to 0.69 per cent.

Shares of Adani Power surged 5.58 per cent to Rs 40.70, while Reliance Power was quoting 3.63 per cent higher at Rs 48.55. Also, the NSE Nifty was quoting 14.40 points, or 0.16 per cent higher at 8,977.85.

Brokers said pick-up in buying activity, coupled with robust foreign fund inflows and a mixed trend in other Asian markets influenced trading sentiments. In other Asian markets, Hong Kong’s Hang Seng rose 0.30 per cent, while Japan’s Nikkei was down 0.17 per cent in early trade today.

Shanghai Composite Index also shed 0.10 per cent. The US Dow Jones Industrial Average ended 0.24 per cent lower yesterday.