Sensex follows Asia higher,

• rajesh_sangvi
• June 1, 2009

The key benchmark indices surged in early trade led by gains in realty, PSU, metals and technology stocks. The benchmark index Sensex rose 234 points to 14,859 levels and the Nifty was up 1.8 per cent at 4,530.

Buying is likely to continue for some more time now. The action would now shift from specific sectors to individual stock-picking,

Buying interest was seen across the board with realty, PSUs, metals and technology stocks leading the gains. The realty index on the BSE surged 3.1 per cent. The metal index on the BSE surged 2.2 per cent and the PSU index rose 2 per cent. The BSE technology index advanced 1.9 per cent each.
It would be important for the markets to close above 4,500. Thereafter, it is likely to face resistance at 4,640. Cairn India and OMCs like IOC look attractive at this stage,”
Among the Sensex stocks,
RCom was the biggest gainer. The stock rose 5.5 per cent in early trade. DLF, Tata Steel and ACC, up over 3 per cent each, were the other major gainers in the pack.

In Asia, the key benchmark stock indices were trading firm. China’s Shanghai Composite, Hong Kong’s Hang Seng and Japan’s Nikkei were up over 1.7 per cent each.

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• Last Modified: June 1, 2009
• Filed Under: Latest News, MARKETS, NATION, WORLD