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Sensex up 49 pts in early trade on fund inflows, reform hopes

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Mumbai, Oct 27 (PTI) Rising for the sixth consecutive session, the benchmark BSE Sensex gained over 49 points in early trade today on sustained foreign capital inflows amidst hopes of more reforms by the government.

The 30-share index, which had gained over 851.71 points in the previous five sessions after the government announced reforms in oil & gas and coal sectors, rose by 49.33 points, or 0.18 per cent, to 26,900.38 with power, PSU, capital goods, healthcare and banking stocks leading the rise.

The NSE Nifty also edged higher by 19.30 points, or 0.24 per cent, to 8,033.85.

Stock markets remained closed on Friday on account of “Balipratipada”.

Brokers said sentiments remained upbeat on expectations that the government would announce more reforms amidst hopes of strong earnings from some more bluechip companies.

Besides, a mixed trend at other Asian bourses influenced trading sentiments, they said.

Among other Asian markets, Japan’s Nikkei rose 0.74 per cent, while Hong Kong’s Hang Seng shed 0.77 per cent in early trade today.

The US Dow Jones Industrial Average closed 0.76 per cent higher in Friday’s trade.

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