Brokers attribute the initial rise in the stock market to a trend on other Asian bourses in tandem
THE BSE benchmark Sensex has risen by 115 points in the opening trade on the emergence of buying at existing lower levels, driven by a firming trend on other Asian bourses.
The 30-share BSE index, which has lost over 832 points in the previous three sessions, recovered by 115.60 points, or 0.73 per cent, to 15,980.46 in the first five minutes of trade on buying in fundamentally strong stocks available at attractive lower levels.
In a similar fashion, the wide-based National Stock Exchange Nifty index moved up by 34.45 points, or 0.72 per cent, to 4,806.60.
IT, metal and realty stocks accounted for the lion`s share of the gains.
Brokers attributed the initial rise in the stock market to a firming trend on other Asian bourses in tandem with the overnight recovery in US equities.
Meanwhile, in the Asian region, Japan`s Nikkei Index was trading marginally higher by 0.42 per cent in early trade. The Dow Jones Industrial Average ended 1.44 per cent higher in yesterday`s (October 4) trade.
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