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Sensex up for the fourth day; up 143 points

Last Updated 02 December 2010, 10:33 IST

The Bombay Stock Exchange benchmark Sensex, which had gained 713.39 points in last three trading sessions, climbed further by 142.70 points to 19,992.70. It touched the day's high of 20,084.25 points.

The broad-based National Stock Exchange index Nifty also rose by 50.80 points to 6,011.70, after touching the day's high of 6,029.50.Trading sentiment turned bullish on higher-than-expected GDP for the second quarter this fiscal, rising exports and a fall in food inflation to 8.6 per cent for the week ended Nov 20 from 10.15 last week.
The realty sector, hammered after bribe-for-loan scam, was the best performer in the session as investors bought fundamentally strong construction stocks available at existing lower levels.

The rally was further supported by a firming trend in the Asian region, with the MSCI Asia Pacific Index on course for its first weekly gain after declining for three straight weeks on concern that China will boost anti-inflation measures and amid rising tensions between North and South Korea.

A higher opening in the Europe on expectations of hopes of some solution to the euro debt crisis in today's ECB meeting today, also kept the world markets in better shape.
Front-runner stocks like Reliance Industries, Infosys Technologies, ICICI Bank, Wipro, TCS, Tata Steel, Tata Motors and ONGC continued to support the uptrend.

Oil and Natural Gas Corp., the state-owned oil explorer, jumped Rs 24.55 to Rs 1,313.05 after the government approved splitting its shares.

Hindalco Industries, the aluminium producer that controls the U.S.-based Novelis, led gains among metal companies by adding Rs 4.80 to Rs 218.40, as metal prices rallied in overseas markets after reports showed U.S. payrolls and manufacturing climbed.
Copper prices from London to Shanghai advanced after manufacturing in China, the U.S. and Europe expanded, adding to signs of a revival in demand. Zinc, lead and tin also rose.

Power sector stocks, including Lanco Infratech and Power Grid climbed after they were rated "buy" by Nomura Holdings, which said in a note to investors that they are "bullish" on the industry given the growth outlook.

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(Published 02 December 2010, 09:20 IST)

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