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Sensex adds to gains, up 149 pts

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Sensex adds to gains, up 149 ptsMumbai: The benchmark BSE Sensex surged over 149 points today on a buying build-up by participants, tracking a global rally.

Moreover, short-covering of positions by speculators in view of tomorrow’s June monthly derivatives contract expiry contributed to the upmove.

Rising for the third straight session, the BSE 30-share barometer gained 149.33 points, or 0.56 per cent, to 26,673.88.

The gauge had gained 126.84 points in the previous two sessions.

All sectoral indices led by realty, auto, capital goods and consumer durables were in the green, adding up to 4.36 per cent.

Also, the NSE Nifty surged 48.70 points, or 0.59 per cent, to 8,176.55.

Brokers said pick-up in buying activity in recently battered stocks plus covering-up of outstanding short positions by speculators had a positive impact.

A firming trend in Asia, in line with overnight gains at European and US stock markets, driven by hopes of policy measures to counter implications of Britain’s shock decision to exit the European Union came as a catalyst, they added.

Japan’s Nikkei was up 1.75 per cent while Hong Kong’s Hang Seng rose 0.68 per cent in early trade today. Shanghai Composite surged 0.52 per cent.

The US Dow Jones Industrial Average ended 1.57 per cent higher yesterday.


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