Mumbai: The benchmark BSE Sensex rose over 97 points in early trade today after sentiments were bolstered on the back of Reliance Industries’ encouraging fourth quarter earnings announced last week. The 30-share index, which had lost 602.34 points in the previous three sessions, recovered by 97.36 points, or 0.34 per cent, at 28,539.46, with stocks of consumer durables, metal and power sectors, leading the rise. Similarly, the National Stock Exchange index Nifty edged higher by 13.95 points, or 0.16 per cent, at 8,619.95.
Brokers said selective buying by funds and retailers after better-than-expected quarterly earnings by Reliance Industries announced post trading hours on Friday, mainly influenced the sentiments. RIL shares climbed 1.19 per cent to Rs 937.95 in early trade after the company posted 8.5 per cent rise in its fourth quarter net profit at Rs 6,381 crore. However, a weak trend in other Asian bourses restricted the rise, brokers added. Among other Asian markets, Japan’s Nikkei fell by 0.77 per cent while Hong Kong’s Hang Seng shed 0.44 per cent in early trade today. The US Dow Jones Industrial Average ended 1.54 per cent lower in the previous session on Friday.
