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Sensex rises 55 pts in early trade on capital inflows

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Mumbai, Nov 7 (PTI) The benchmark BSE Sensex gained over 55 points in early trade today on foreign capital inflows amid hopes of announcement of more reforms by the government.

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

The 30-share index, which had gained 55.50 points in the previous session, rose by 55.03 points, or 0.20 per cent, to 27,970.91 with realty, banking, capital goods, FMCG, auto and IT stocks leading the rise.

The NSE Nifty also edged higher by 22.05 points, or 0.26 per cent, to 8,360.35.

Stock markets remained closed yesterday on account of “Guru Nanak Jayanti”.

Brokers said sentiments remained upbeat on sustained foreign fund inflows on expectations that the government would announce more reforms.

Besides, falling global crude oil prices raised hopes of a rate cut by the RBI.

Meanwhile, Finance Minister Arun Jaitley on Wednesday promised reforms in labour, land acquisition and insurance laws and expressed readiness to look at privatisation of some loss-making public sector companies.

Among other Asian markets, Japan’s Nikkei rose 0.84 per cent, while Hong Kong’s Hang Seng shed 0.18 per cent in early trade today.

The US Dow Jones Industrial Average closed at a new record-high by rising 0.40 per cent in yesterday’s trade. PTI SUN KPS

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