Sensex surges 162 pts, regains 17k level on global cues

The 30-share BSE Sensex was trading well above 17,000 points level at 17,120.56 points, a rise of 162.02 points, or 0.95 per cent in opening trade with stocks of metals, auto, realty, capital goods and FMCG sectors leading the rally. The BSE barometer had gained 92.13 points in the previous session.

The wide-based National Stock Exchange index Nifty moved up by 49.60 points, or 0.98 per cent to trade at 5,077.00.

Stock brokers said pick up in buying by foreign funds bolstered by firming trends in the global markets and expectations of robust corporate earnings, influenced the trading sentiments on the domestic bourses here.

However, stocks of software exporters such as Infosys Technologies and Tata Consultancy Services remained under pressure following weakening of dollar against the rupee.

Major gainers which supported the Sensex were Sterlite Industries was up by 3.85 per cent to Rs 802.90, Tata Steel by 2.10 per cent to Rs 521.10, Hindalco by 3.11 per cent to Rs 129.20, Reliance Industries by 0.61 per cent to Rs 2,141.50, Reliance Infra by 0.26 per cent to Rs 1,287.35, Rcom by 1.58 per cent to Rs 272.50.

Besides, ITC Ltd gained 1.03 per cent to Rs 249.45, ICICI Bank by 0.94 per cent to Rs 947.10 and HDFC Bank by 1.93 per cent to Rs 1,690.55.
Meanwhile, Hong Kong's Hang Seng was trading higher by 1.92 per cent, while Japan's Nikkei was up 1.12 per cent in early trade today, while the US Dow Jones Industrial Averge closed 1.37 per cent higher in yesterday's trade.