Sensex gains 139 pts; at 7-month high on fund inflows

Sensex gains 139 pts; at 7-month high on fund inflows

The BSE benchmark index Sensex today climbed to a seven-month high by adding 139 points on fund-based buying in bluechip, led by Reliance Industries, amid a firming global trend.

The 30-share barometer, which had gained 135.36 points on Friday, added another 139.26 points, or 0.76 per cent to 18,428.61, touching the level last seen on July 27.

The broad-based Nifty of the National Stock Exchange closed above 5,600 mark level by rising 42.85 points, or 0.77 per cent, to 5,607.15 on heavy inflow of foreign funds.

Brokers said investor confidence regained strength on firming global trend after European finance ministers reached an agreement on the USD 170 billion bailout package for Greece to shield from sovereign debt crisis.

The most heaviest on the benchmark, Reliance Industries, spurted by 2.92 per cent to Rs 841.80 and power equipment major BHEL rose to a two-month high by adding 4.78 per cent to Rs 317.,95 on reports of some measures by the government to help domestic power companies.

Foreign investors bought a net USD 444 million of Indian stocks in the two days to February 16, taking their investment this year to USD 4.9 billion, according to the SEBI data.

Among other gainers, Tata Steel surged 2.79 per cent to Rs 491.35, State Bank of India by 1.45 per cent to Rs 2,491.75, Bharti Airtel by 2.79 per cent to Rs 359.30 and ONGC by 3.70 per cent to Rs 291.70.

The ralty sector index gained the most by 4.34 per cent to 2,169.96 followed by consumer durable index by 3.29 per cent to 6,865.88.