Sensex up by another 160 points on firm global cues

The BSE benchmark sensex was up by 160 points in early trade today on buying in consumer durables, realty, banking, capital goods and metal stocks on firm global cues, coupled with the resumption of foreign capital inflows.

The BSE benchmark sensex resumed higher at 16,668.15 and shot up further to 16,774.12 before quoting at 16,716.75 at 1015 hours, a net gain of 159.52 points, or 0.96 per cent, from its previous close.

The National Stock Exchange's (NSE) 50-share Nifty Index was also up by 47.05 points, or 0.94 per cent, at 5,026.65 at 1015 hours.

The major gainers in early trade were Bharti Airtel (up 4.05 per cent), Hindalco Industries (2.79 per cent), Sun Pharma (2.49 per cent), Jindal Steel (2.25 per cent), NTPC (2.11 per cent), SBI (1.95 per cent) and Larsen (1.93 per cent).

Meanwhile, Asian stocks extended their recent gains on easing worries over the euro-zone debt crisis, following assurances from French and German leaders over the weekend that they will do everything necessary to support Europe's banks.

Hong Kong stocks led the gains in Asian markets in early trade today as financial shares surged after a state-backed investment fund boosted its holdings in some of China's biggest banks. The key benchmark indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan rose by between 0.72 per cent and 3.15 per cent.

Foreign institutional investors (FIIs) bought shares worth Rs 211.71 crore yesterday as per provisional figures from the stock exchanges.