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| DNA |
The BSE benchmark Sensex on Thursday gained nearly 103 points in early trade, mainly led by a rally in stocks of oil companies on hopes of a hike in fuel prices amid firm global cues.
The 30-share barometer, which had lost 75.93 points yesterday, recovered by 102.53 points, or 0.52%, to 19,769.12 with all sector indices, led by oil and gas and PSUs, rising up to 1.24%. On the similar lines, the wide-based National Stock Exchange index Nifty gained 29.75 points, or 0.50%, to 6,001.25.
Brokers said fresh buying by funds amid a firming Asian trend after a overnight rally on Wall Street mainly influenced the sentiment here. Stocks of oil companies were in good demand on hopes of a hike in fuel prices that might reduce subsidy burden and improve revenues, they said. The oil and gas sector index was up by 1.24% with stocks of state-run HPCL rising 1.99%, BPCL by 2.47%, while Indian Oil Corp by 1.69%.
Meanwhile, in Asia, Japan's Nikkei was up by 0.94 per cent, while Hong Kong's Hang Seng gained 0.91%.The US Dow Jones Industrial Average ended 0.46% higher on Wednesday.
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