Sensex continues winning streak, up 116 pts on GDP data

Sensex continues winning streak, up 116 pts on GDP data

Mumbai, Dec 1 (PTI) Building on gains for the fifth
straight session, the benchmark Sensex gained over 116 points
to 26,769.32 in early trade today on sustained buying by
participants, particularly domestic institutional investors.
Indian economy accelerating to 7.3 per cent in the
September quarter and positive Asian indices propped the
benchmark Sensex, brokers said.
The 30-share index, which had gained 792.64 points in
the previous four sessions, was up 116.51 points, or 0.43 per
cent, at 26,769.32, led by oil & gas, realty, consumer
durables, PSU, banking and capital goods, rising by up to
0.54 per cent.
The NSE Nifty was quoting higher by 20.50 points or 0.25
per cent, at 8,245.
Sentiments got a boost after India stayed put as the
fastest growing major economy with GDP growth at 7.3 per cent
in the September quarter of the current fiscal, pushed
mainly by farm output, brokers said.
A firming trend at other Asian markets following an OPEC
deal to cut oil output for the first time in eight years, sent
crude prices soaring almost 10 per cent, they said.
Globally, US oil prices climbed USD 4.21 to USD 49.44
a barrel in yesterday’s trade.
Hong Kong’s Hang Seng was up 0.82 per cent while Shanghai
Composite Index rose 0.65 per cent in early trade. Japan’s
Nikkei surged 2.26 per cent.
The Dow Jones Industrial Average in the US ended 0.01 per
cent higher in yesterday’s trade. PTI SUN KPS