Sensex extends gains, surges by 142 points ahead of GDP data

Sensex

The BSE benchmark Sensex rose for the fourth straight day by surging nearly 142 points in early trade today on sustained buying by funds ahead of second quarter GDP data amid a firm trend in Asian regions.

The 30-share barometer, which had gained over 665 points in the three previous session, surged further by 141.86 points, or 0.74 per cent, to 19.312.77, with all sectoral indices led by banking and realty sectors stocks trading in positive zone with a gain up 0.91 per cent.

Similarly, the wide-based National Stock Exchange index Nifty traded higher by 35.75 points, or 0.61 per cent, to 5860.75.

Brokers said sustained buying by funds and retail investors amid a firm trend in the Asian region following overnight gains at the US market, mainly influenced the trading sentiment.

They said Goldman Sach upgrading equities also boosted the sentiment.

Meanwhile, in the Asian region, Hong Kong's Hang Seng rose by 0.17 per cent, while the Japan's Nikkei by 0.88 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.28 per cent higher in yesterday's trade.

GLOBAL MARKETS ROUNDUP

* Nifty futures on the Singapore Exchange rises 0.45 percent. The MSCI-Asia Pacific index excluding Japan is up 0.65 percent.

* U.S. stocks finished higher on Thursday as investors bought on sporadic dips in a market roiled by conflicting comments from Washington about negotiations on an agreement to avoid the "fiscal cliff."

* Asian shares edged up on Friday on expectations a deal will eventually be reached to avoid a U.S. fiscal crisis, but investors wary about taking big positions before the year-end were likely to take profits on the rises and buy on dips.

FACTORS TO WATCH

* India to release Sept quarter GDP data at 0530GMT.

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