Sensex positive on global cues

• rajesh_sangvi
• June 1, 2009

The key benchmark indices were trading higher in early deals following overnight gains in US markets. The benchmark index Sensex rose 138 points to 14,979 levels and the Nifty was up 0.7 per cent at 4,564.
The markets are likely to follow global cues and the rally may continue till the announcement of the budget,
Buying interest was seen in most sectors with capital goods, FMCG, power and realty stocks leading the gains. The capital goods index on the BSE surged 1.5 per cent. The BSE FMCG index gained 1.3 per cent and the power index rose 1.2 per cent. The BSE realty index was also up 1.2 per cent each.
Among the Sensex stocks, M&M was the biggest gainer. The stock rose 2.4 per cent in early trade. Sterlite Industries, ICICI Bank and Tata power, up over 2.2 per cent each, were the other major gainers in the pack.
US markets rallied on Monday on better-than-expected readings on manufacturing, consumer spending and construction spending.
The Dow Jones industrial average and other major indexes rose more than 2 percent, and the Standard & Poor’s 500 index and Nasdaq composite rose to their highest levels this year.
Taking cues from US markets, the key benchmark stock indices in Asia were trading higher. South Korea’s Kospi and Japan’s Nikkei were up nearly 1per cent each. Hong Kong’s Hang Seng, however, slipped 0.3 per cent.
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• Last Modified: June 1, 2009
• Filed Under: Latest News, MARKETS, NATION, WORLD